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Helium price analysis: HNT gains 14.2 percent value overnight as price rallies to $11.4

Helium price analysis: HNT gains 14.2 percent value overnight as price rallies to $11.4
TL;DR Breakdown
  • Helium price analysis shows bullish momentum.
  • Resistance for HNT/USD is present at $13.6.
  • Support for HNT is present at $9.5.

The Helium price analysis shows the price has increased consecutively for the second day. The bullish momentum has helped the price level to rise to $11.4. Helium was on the decline until 27 May 2022, when the price dropped to the $6.8 level, but the current bullish momentum has helped in recovering the price significantly as the short-term price trend line has been upwards for the last two weeks, which is a huge accomplishment for the cryptocurrency. The next resistance for HNT/USD is present at $13.6, as the bulls are moving ahead towards a further higher position.

HNT/USD 1-day price chart: Strong bullish momentum brings higher gains for HNT

The 1-day price chart for Helium price analysis shows bulls have covered an upwards range from $10.5 to $11.4, as the HNT/USD pair is trading at the later value at the time of writing, gaining a value of 14.2 percent over the last 24 hours, and has gained a value of around 32.9 percent over the last week, as the trend was upwards for most of the week. Today trading volume has improved by 5.39 percent, taking the market cap up by 13.10 percent.

hnt 1 day 2
HNT/USD 24-hours price chart. Source: Tradingview

The volatility for HNT/USD pair is increasing as the Bollinger bands are expanding due to high price oscillation during the present week. Now the upper band is present at the $11.3 mark, the HNT price has rushed above the upper band, and the lower band is present at the $6 mark, which also represents the strongest support for the HNT price. The indicator is making an average of $8.7.

The relative strength index (RSI) is on an upwards curve in the upper half of the neutral zone at index 60. The RSI is at a higher neutral position, and its upward curve shows increasing buying activity in the market.

Helium price analysis: Recent developments and further technical indications

The 4-hour Helium price analysis further confirms the bullish momentum. The price was seen declining in the last four hours of the previous trading session, but the correction was short-lived, and bulls again took over today and are taking the price higher every hour. Still, no traces of bearish hindrance has been observed, but now the price is near the first resistance at $11.6, which will undergo a test soon.

hnt 4 hour 1
HNT/USD 4-hours price chart. Source: Tradingview

The volatility on the 4-hour chart is high as the Bollinger bands are expanded apart, and the price is trading above the upper band, which is present at the $11.4 mark, representing support for HNT/USD price. The moving average is found at $10.6, and the RSI is trading at index 68, moving towards the overbought zone.

Helium price analysis: Conclusion

The current Helium price analysis shows the bullish momentum is defining the price movement largely, still with more room for further bullish movement. If buying activity gains more strength during the next few hours, the HNT/USD may break above the resistance of $11.6. However, the resistance at $13.6 may not be met today. On the other hand, if the selling pressure forms, the coin’s price may fall back to $10.5.

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.
Aamir Sheikh

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

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