The Helium price has experienced a bullish recovery over the past 2 days with the assistance of its 200-day EMA in the 1D time frame. With its value down by 46.25% from its ATH, the altcoin hints at a high possibility of a breakout rally!
However, the market can potentially experience a bull trap around the $8 mark as it has a strong sell point at that level. Amid such volatile market sentiments, will it be wise to invest in the Helium (HNT) token? Scroll down to find out more about the Helium market sentiments!
HNT Price Indicates Increased Price Volatility!
After recording a correction of 10.39% over the past week and 14.47% during the past 30 days, the Helium price has recorded a jump of ~4% in the past 24 hours with a trading volume of $15.46 million, a drop of 45.41%.
Despite the 50-day EMA recording a bearish curve in the Helium price chart, the 200-day EMA acts as a support. This highlights increased uncertainty for this altcoin in the market.
On the other hand, the RSI indicator records a neutral trend over the oversold range. This suggests a cool-off in the buying and selling pressure for the HNT crypto.
Will Helium Price Go Up?
If the bullish momentum resurfaces, the HNT coin price could retest its resistance level of $6.525 this week. Maintaining the price above that level could set the stage for this altcoin to head toward its upper resistance level of $8 during the upcoming weeks.
On the contrary, if the crypto market turns bearish, the Helium crypto could drop toward its support level of $5.155. Moreover, if the bearish sentiment intensifies, this could result in this altcoin bleeding toward its lower support trendline of $3.80.
Wondering about the long-term price prospects of this digital asset? Read our Helium (HNT) Price Prediction 2024 – 2030 to uncover the mysteries!
