The green flushing of Helium (HNT), stands out against all the other reds within the crypto space.
- Price of HNT bounces back at key support level at $3.4
- Helium intraday trading volume registers 378% plunge
- Price of HNT to leap past $5
After its $3.4 support key, the Helium price bounced back and could rise to $5.
According to the HNT technical charts, HNT is experiencing a drop since losing its grip on $8.3 August’s key support. As the HNT price plummeted to $3.32 (its 52-week lowest), it has fallen 59.6%.
Chart: TradingView.com
No matter how negative the rest of market performs, such as Bitcoin which fell below the $19,000 mark, the HNT price is still in control with an engulfing candle that validates a bullish stance.
The HNT price managed to recover from $3.32 and skyrocketed 30%, suggesting a bullish correction.
Rise in Helium Prices 19%
CoinMarketCap says that the HNT price has risen by 0.77% to $4.90 at this time, according to CoinMarketCap.
A huge increase in the trading volume means that buyers are on a frenzy of shopping at bargain prices. The price of Helium could rise to 19% if there is constant buying pressure.
This price will confirm if buyers are committed to buying despite resistance.
A sudden rise in the price of gold is not uncommon, even though it’s in an extremely bearish environment.
This is why the Helium price will likely slide below the $5.9 resistance and retest support at $3.26.
This indicates that Helium is experiencing an explosive growth spurt from its oversold regions, which also shows increased demand at reduced prices. A crossover above the middleline could be a sign of recovery.
HNT EMAs indicate a Downward Trajectory
The 20/50/100/20 EMAs indicate a very vicious downward movement. The vortex indicator also shows an obvious gap between VI+ and VI, indicating extreme slowness in bearish movements despite the price pump.
HNT’s market capitalization has plummeted by as much as 50% from $1 billion to $492 million.
HNT’s value dropped by as high as 9% overnight. This is according to HNT reports. The HNT price has dropped by more than 57% over a period of 30 days, or 94% since its ATH.
Crypto market capitalization at $983 billion according to the daily chart. Source: TradingView.com| Source: TradingView.com Featured image taken from The Coin Republic. Chart from TradingView.com