Helium (HNT) Skyrockets 112% in 10 days, Bulls Eye $10
The post Helium (HNT) Skyrockets 112% in 10 days, Bulls Eye $10 appeared on BitcoinEthereumNews.com.
The Helium trend reversal hit 112% within 10 days from the $3.470 low formation during the market crash last Monday. Will the increasing momentum in HNT’s recovery result in a 38% hike? Helium’s high-speed recovery run, mostly unaffected by the broader market crash, continues to head toward the $10 milestone. The unstoppable bull run turned the year-to-date return in Helium positive to 5.22%. With a boost in trading volume and a market crap approach $1.2 billion, the altcoin is likely to become one of the best performing Solana-based altcoins. Helium’s Uptrend Exceeds $7.50 On the daily chart, Helium shows a rounding bottom reversal rally moving at breakneck speed. The ongoing rally accounts for a price jump of 112% from the $3.46 low formation last Monday. Helium Price Chart Currently, Helium trades at $7.34, with a 12% gain in the last 24 hours. However, the daily candle shows a pullback of 0.97% with a long tail revealing massive demand underneath. Based on the Fibonacci retracement over the correction phase, multiple high volume levels between $3 and $9.88 arise. The ongoing recovery run surpasses the 61.80% Fibonacci level at $6.336, following the critical 50% level breakout at $5.528. Essentially, the daily chart expresses a massive bullish influence over the Helium price trend. This increases the possibility of HNT’s price hitting the $10 psychological milestone. Underlying Bullish Growth Seems Unstoppable In the 4-hour chart, the ascending prices of Helium show a higher high formation, leading to the generation of a resistance trendline. However, the underlying surge in bullishness forms a bullish trend continuation using the trendline as a neckline. Helium Price Chart As visible in the chart above, Helium forms an inverted head and shoulder pattern. Currently, the altcoin trades near the neckline, teasing a bullish break. Furthermore, the MACD and signal lines…
Filed under: News - @ August 14, 2024 3:25 pm