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- Since last night, there is a slight increase in the price of Helium.
- Buyers may soon watch for a bullish breakout above the downsloping trendline.
- The market capitalization of Helium increased by nearly 27% to $287.6 million in the last 24-hours.
The price of Helium (HNT) has spooked speculators as its market capitalization suddenly skyrocketed. HNT price has been trading below a bearish trend line since the beginning of June. Although the bears are still present in the market, the bulls are also seen in action since last night so in this attempt Helium coin may overcome the selling pressure.
The price action of Helium Coin Price (HNT) so far formed a lower-higher structure. Hence, buyers looked to a 52-week low of $1.57 on December 20. Later, buyers swung into action and they pushed the crypto’s price up by more than 20% in the past few days.
Against USDT, Helium Coin (HNT) price is holding above the $2.0 level, while the crypto quote is at the $2.15 mark at the time of writing. Buyers are confident after HNT maintained support above $2.0, which could provide more fuel to reach the next higher level of $2.5 before any price correction.
After this price correction, the buyers may soon witness a bullish breakout above the next resistance level. Notably, the market capitalization of Helium increased by almost 27% to $287.6 million in the past 24 hours. Furthermore, the trading volume shows heavy buying in Helium as it surged by 1560% in the last 24-hours.
Due to the recent bullish move, helium price closed the daily price candle well above the 20 simple moving average while the bears barely defended below the 50 SMA. The RSI crossed above the semi-line after 45 days, which is great news for HNT investors. Also the MACD showed a bullish crossover this week.
Conclusion
In the last 30 days, buyers saw the highest gain on December 21. Surprisingly, Helium coin price recovered above the $2.0 level and the RSI indicator also seems to be more bullish.
Support level – $2.0 and $1.0
Resistance level – $3.0 and $6.0
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 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.
