Can Helium (HNT) Overcome Resistance and Hit Fresh Peaks?
The post Can Helium (HNT) Overcome Resistance and Hit Fresh Peaks? appeared on BitcoinEthereumNews.com.
Helium (HNT) rose 12%, reaching $9.33 with a $100.29M 24-hour trading volume. The RSI of 64.78 signals bullish momentum, with resistance at $9.50. Helium (HNT) has seen a notable price increase, currently trading at $9.32, reflecting an 11.48% surge over the last 24 hours. This significant jump comes alongside a massive rise in 24-hour trading volume, up by 322.24% to reach $104.75 million. Helium’s market capitalization now stands at $1.62 billion, marking an 11.52% increase. The market cap ratio of 6.12% highlights strong market activity, showcasing growing investor interest. Bullish Indicators for HNT On the daily chart, Helium faces key resistance at $9.50. If the price breaks this level, the next resistance could lie around $10.00. On the downside, strong support sits near $8.00. A drop below this could push the price back to the $7.00 range. The Relative Strength Index (RSI) currently stands at 64.78, showing bullish momentum but not yet overbought. The RSI average, hovering at 64.18, aligns with this trend, indicating steady strength. The moving average (MA) indicators also confirm the bullish sentiment. The price is trading above both the short-term and long-term moving averages, which signals upward momentum. Notably, the moving average crossover suggests further gains. A recent bullish crossover occurred when the short-term MA moved above the long-term MA. This pattern often precedes strong price rallies, which may indicate that HNT could test higher resistance levels soon. The Chaikin Money Flow (CMF) is at 0.15, confirming positive capital inflows into HNT. This value suggests buyers currently dominate the market, strengthening the bullish outlook. If the price sustains above $9.50, HNT could aim for the $10.00 mark. However, a failure to break resistance may lead to short-term pullbacks toward $8.00. The bullish technical indicators, including rising volume, positive RSI, and CMF, all point to continued upward…
Filed under: News - @ December 15, 2024 2:15 pm