Helium Price Analysis: HNT trading volume tumbles amid range-bound territory at the conceptual round level of $10

• Helium (HNT) price is trading in an ascending triangle pattern with reference to the 4-hours price chart.
• HNT price is well above the green signal line of the Super Trend indicator on the daily price chart.
• The daily RSI indicator is looking sideways just above its semi-line (50-point).

Helium (HNT) price has been making higher-low and lower-high for the past several days. Meanwhile, the bulls kept the HNT price above the $10 conceptual round since last night.

If the bulls close the daily price candle above the $10 level this will act as a short-term support area for HNT bulls.

In the context of the 4-hours price chart, the Helium (HNT) coin is trading inside an ascending triangle pattern. HNT bulls failed to reclaim the $11.5 to $12.5 resistance area on several occasions.

At the time of writing, the HNT token is trading at the $10.7 mark against the USDT pair. Thus, the helium coin belonging to the bitcoin pair is trading up 0.3% in the green zone at 0.0005119 satoshis.

In terms of higher time frames such as 4-hours as well as daily, the HNT price is well above the green signal line of the Super Trend indicator and the bulls have placed a stop loss near this area.

Meanwhile, according to CMC, HNT’s market cap is well above $1.2 billion, with a gain of 1.9% over the past 24 hours. Despite the recovery, trading volumes declined, indicating a volatile uptrend.

Super trend indicator favors bullish trend 

In the daily price scale context, the RSI indicator is looking sideways just above its semi-line (50-point). On the other hand, ADX continues to decline, indicating weak sideways momentum for HNT Coin.

Conclusion

Helium price is in the range between bearish and bullish trends. A breakout of this triangle pattern signals an upcoming directional trend.

Support level- $6.5 and $5.0

Resistance level- $12 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.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.