Despite the increased negative trend in the crypto market, the Helium (HNT) token has defied all odds and surged 18.36% in the past 36 hours. This has resulted in this Solana-based altcoin coming under the limelight and radar of the investors.
Further, this makes its long-term investors optimistic about its monthly price action. Planning on investing in this project but are filled with various questions and FUD?
To uncover answers to questions like “Why is Helium coin going up?” and “How high will HNT price go?” scroll down as this article might just be the one for you!
HNT Price Successfully Retests Its Support Trendline
With a surge of approximately 20%, the Helium price has successfully tested its support trendline of the ascending channel pattern. Notably, this SOL-based token has been trading within the range since mid-July. Moreover, it has an intraday gain of 8.56% with a trading volume of $33.209 Million.
The HNT coin price has been trading under a bullish sentiment in both short and long time frames. This indicates strong project fundamentals and increasing adoption of this ecosystem. Further, with a YTD return of +18.41%, it has secured the 53rd position with a capital of $1.303 Billion.
Will Helium Price Reach $10?
If the market holds the HNT price above its support level of $8, the bulls will prepare to test its upper resistance level of $9.5 in the coming time. Maintaining the price above that level may set the stage for this altcoin to push its value toward its yearly high of $11.
On the contrary, if a bearish reversal occurs, the Helium coin price may retest its support trendline of the ascending channel pattern. Moreover, if the bearish sentiment intensifies, it could plunge toward its low of $6.525 this month.
Read our, Helium price prediction for long-term price targets!
