Helium (HNT) Recovers With Double-digit Gain, Can Bulls Push to $12?

Helium (HNT), despite a bullish trend in the last months, was not able to keep its ground against USDT (tether). The price fell from an all-time high at $50 to $5. Bitcoin’s recent price hike has had an impact on overall market. Most altcoins are showing strength with more than 100% gains. Helium (HNT), however, is still in the picture thanks to its incredible recovery. (Data from Binance).

Weekly Chart- Price Analysis for Helium (HNT). 

HNT’s price has not been able to match its bullish rally, when it rose to $50 on strong bullish sentiment.

HNT’s stock has fallen from $50 to $4 after falling to the low end. HNT is now at $4 and has strong support. This seems to be an area that traders can place their buy orders.

HNT’s price could end the week on a more bullish note ahead of a new weekly candle. HNT could hit $8, possibly even $12 due to strong sentiment.

HNT prices are currently facing resistance at $6.5. If HNT switches this region, then we may see the price rise to $8-$10 or even higher.

Weekly resistance for the price of HNT – $6.5.

Weekly support for the price of KNC – $4.5.

Prices Analysis of HNT on the Daily (1D), Chart

The Daily Chart of HNT Prices | Source: HNTUSDT On Tradingview.com

Price of HNT fell below $25 and was then rejected. HNT rebounded after it formed support to withstand the sell orders.

The HNT has risen from $4 to $5.7, before it hit resistance and tried to break through $6.5.

HNT trades at $5.7 per day. This is in an attempt to surpass the 50 Exponential Movement Averages (EMA) and keep it there. The price of $7 corresponds with the 50 EMA which serves as a price barrier to HNT.

The resistance level for HNT’s price is $7. The price of HNT could reach $10-12 if it breaks or closes at this level.

Daily resistance for the HNT price – $7.

Daily support for the HNT price – $4.5.

Chart HNT Price Analysis on The Four-Hourly (4H),

The Four-Hourly Price Chart for HNT | Source: HNTUSDT On Tradingview.com

After breaking out of its long downtrend, HNT’s price in the 4H timeframe remains bullish. HNT’s price is above 50 but lower than the 200 EMAs. If HNT fails to break the 200 EMA support, it would be a bullish price movement.

The prices for the 200 and 50 EMAs range from $4.7 to $6.2, respectively.

Relative Strength Index (RSI for HNT) is shown on the 4H Chart. It’s above 70 which indicates high order volumes.

Four-Hourly resistance for the HNT price – $6.2.

Four-Hourly support for the HNT price – $4.7.

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