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- The Helium coin is moving with a high-low formation, hence HNT price recovered above the $10 conceptual round level.
- In the context of the daily price chart, the Supertrend indicator started moving higher with the green line (Bullish sign).
- The HNT coin with the bitcoin pair favors the bulls as the pair is up 8.3% at 0.000375 satoshis.
After reaching a low of 6.5 points in 2022, the Helium currency began to rise. However, prior to the recovery, HNT Coin played an unpleasant game with speculators, with the price movement taking an incredible bullish climb in October 2021. Nonetheless, the golden era has passed, and the bears have also taken advantage of a fantastic opportunity. On the daily chart, the price activity appears to be bullish.
Following the annual low, price movement produces a high-low structure. On May 30, the bulls were so aggressive that they broke the downsloping trendline (blue) with a 28% in the same trading session.
Meanwhile, today the bulls broke the weekly swing high as well as investors pushed the coin price above the $10 conceptual round level. If the bulls close the intraday price candle above $10 it will turn into a support level.
Thus according to CMC, with a gain of 8.8% in the last 24 hours, the Helium coin is trading at the $11.5 mark. Furthermore, HNT coin with bitcoin pair favors the bulls as the pair is up 8.3% at 0.000375 satoshis. Meanwhile, Supertrend Indicator gave bullish signals on 6th June.
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Round level $10 may act as a vital support level
The daily RSI indicator is going to hit the overbought zone as it manages to move well above the half-line. But on the other hand ADX started falling down.
Conclusion
If the daily price candle closes the above conceptual round level of $10, the Helium coin could register a strong bullish rally. But near the $15 mark, buyers may see a slight pull-back.
Support level- $6,5 and $5.0
Resistance level- $10 and $16
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
