Helium Coin Price Bloats 30% – Can HNT Expand Past $5?
09 September 2022 - 3:16PM
NEWSBTC
Helium (HNT) has been flushed in green, standing out from all the
reds in the crypto space. HNT price bounces back from key support
at $3.4 Helium intraday trading volume registers 378% plunge HNT
price to sprint past the $5 level Helium price has bounced back
from its support key spotted at $3.4, prompting a new rally which
can spike past the $5 level. Based on the HNT technical chart, the
token is showing a dip since it lost its grip on the key support
found at $8.3 in August. HNT price has slumped by 59.6% as it
nosedived to $3.32, its 52-week low so far. Chart: TradingView.com
Regardless of how negatively the rest of the market is performing
such as Bitcoin, which is dipped in red and fell under the $19,000
level, HNT price still reigns with the formation of an engulfing
candle validating a bullish stance. Apparently, the HNT price was
able to recuperate from the $3.32 mark and skyrocketed by 30%
hinting at a bullish reversal. Related Reading: XRP Signals
Considerable Uptick – Will Social Media Lift Its Price Past $0.34?
Helium Price Seen Rising 19% According to CoinMarketCap, HNT price
is up by 0.77% or $4.90 as of this writing, The immense increase in
terms of trading volume implies that buyers are going on an
exciting shopping spree at discounted prices. With consistent
buying pressure, Helium price may spike to as much as 19% before it
taps on the psychological zone set at $5. At this point, the HNT
price can validate whether buyers are seriously committed despite
the resistance and at the same time, this also tests whether the
price is flexible and can still soar. Regardless, a sudden spike in
price is regarded to be uncommon, especially amid a tough bearish
market. With that in mind, the Helium price is projected to slide
from the $5.9 resistance to retest the support found at $3.26. RSI
for Helium shows an aggressive growth spurt coming from the
oversold region which shows the increase in demand at discounted
prices. Now, a crossover that will hover above the midline can
validate recovery. Related Reading: Fantom (FTM) Hit By Bearish
Sentiment Despite Logging Over 300,000 Active Users HNT EMAs
Indicate Downward Trajectory The 20/50/100/20 EMAs show a rather
vicious downside movement. Meanwhile, the vortex indicator shows a
noticeable gap in between the VI+ and VI- indicating extreme
sluggishness in bearish movement despite the pump in price. HNT’s
market capitalization has plummeted by as much as 50% from $1
billion to $492 million. A couple of days ago, HNT is seen to have
nosedived shedding off as much as 9% of its value as seen
overnight. On a 30-day timeframe, HNT price is seen to have slumped
by over 57% in over a month or down by 94% from its ATH.
Crypto total market cap at $983 billion on the daily chart |
Source: TradingView.com Featured image from The Coin Republic,
chart from TradingView.com
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