- Helium price analysis is highly bullish today.
- The HNT/USD is at an all-time high of $34.6.
- A correction might be awaiting to loom in the coming hours.
The Helium price analysis shows the cryptocurrency is in bullish mode today, as the price shows an increase today as well. Helium is on the upward trend from 22nd September as the HNT price pattern shows sustainment of higher highs along with reasonable corrections over time. But the price curve has been becoming largely steepish from 26th October, when the token started rallying high, gaining significant amounts of value with the highest jump observed yesterday, when the token rallied from $29.8 to $33.7 and still continues the upside today.
The broader cryptomarket is showing mixed market sentiment today, as the leader Bitcoin is trading hardly above $61,000 after going through correction for three days. The Ethereum is in a bearish cycle as well, trading around $4400 figure. However, many top altcoins are trading in greens and some racing high, while a few reports losses as well, with MANA and Loopring topping the charts with 14 and 17 percent improvements.
HNT/USD 1-day price chart: Helium continues to rally higher
The 1-day price chart for Helium price analysis shows that the bulls continue to cover upwards range after yesterday’s rally. The HNT price has improved from $33.6 to $34.6 today as the coin is trading at the later value at the time of writing. Helium shows an increase in price value by 10.5 percent over the last 24 hours and an increase in price value by 15.9 over the past week, owing to the aggressive bullish momentum of the past two weeks. The trading volume has also increased by 95 percent, providing a market dominance to the token by 0.13 percent.
The volatility is quite high for the HNT/USD pair, and the token continues to trade above the uppermost limit of the volatility indicator from yesterday and has converted the upper limit into support for its price at $34. The upper Bollinger band shows more divergence to the upper side as compared to the lower band, which shows an almost horizontal movement and the lowest support at $17.
The relative strength index entered the overbought region on 28th October and continues to trade in it with some up-down movements. The RSI is still in the overbought region at index 84, quite high for RSI but still on an upwards curve, indicating intense buying in the market.
Helium price analysis: Recent developments and further technical indications
The 4-hour Helium price analysis shows the token has turned more volatile as the price has been on the rise continuously for 16 hours, and no correction has been observed during this time. Even the correction that took place prior to this period was quite short-lived, and the token started moving upwards again.
As said above, the token has turned more volatile, the volatility indicator, the Bollinger bands, has expanded more with its upper band at $35 now representing resistance for the Token and the mean average of the Bollinger bands at $30.5 now represents support for the token. The moving average is trading at $32.7, and the RSI is still on an upwards curve at index 82 on the 4-hour chart indicating buyers dominance.
Helium price analysis: Conclusion
The Helium price analysis is in favor of bulls today as the bullish momentum is quite overwhelming, putting the bears on defense helplessly. The token is expected to cover more upwards range today, but chances are there for a short correction to take place any time, but overall, traders can expect the token to discover newer heights today. This aggressive price action maybe is due to the altcoins season, but the 5G announcements, the internet of things (IoT)’s growth, and the metaverse updates are overwhelming these days, with the world going crazy over them. Speculations are there for Helium to continue upside in the coming days as well.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.