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- Helium crypto prices shot up 45% approx from the recent lows at $1.440 and forming a higher high candle
- HNT crypto price is surged more than 10% on intraday and attempting to breakout 50 day EMA
Helium crypto price is trading with mild bullish cues and buyers are attempting to break out of the 50 day EMA hurdle. As per coinglass, In the last 12 hours, HNT long positions are 52.26% and short positions are 47.74% indicating bullishness may continue in coming days. Currently, HNT/USDT is trading at $1.792 with the intraday gains of 6.56% and 24 hour volume to market cap ratio stood at 0.0296
Will HNT be able to break out of the $2.00 hurdle ?
On a daily time frame, HNT crypto price is in downtrend and bears have tried their best to break down the $1.00 support level but failed and prices bounced back sharply while recovering more than 45% form the recent low which shows that some genuine buyers are active at lower levels. In previous few sessions, HNT prices are in the favor of bulls and buyers seem to be aggressive and likely to break out of the $2.000 resistance level in coming weeks.
The 50 day EMA (yellow) at $2.17 sloping down will act as an immediate hurdle for bulls followed by next at $2.50 and $3.00 level. On a lower side, $1.48 will act as a savior for bulls and if prices slipped below $$1.480, HNT bears may try to hit fresh yearly lows. The MACD has generated positive crossover shows bullishness may continue in coming days and the RSI at 47 rising upwards denotes the confidence of bulls from the lower levels.
Is the HNT up move fake or real ?
On a lower time frame, HNT crypto price seems a little tricky to predict due to its nature of speculative spikes. In mid of December HNT price shot up 43% in just a short span of time, later it resulted as a trap and prices lost all its previous gains. Recently, the same price behavior is visible and at present the price spike may work out in the direction of bulls. The super trend indicator has generated a buy signal which indicates the short term trend may reverse upside but the confirmation will come when prices are able to sustain above $2.000 levels.
Summary
Helium crypto price is showing the initial signs of reversal and bulls are attempting to break out of the $2.000 hurdle zone. As per technical analysis, prices are gaining upside momentum along with higher volume indicates the confidence of buyers at lower levels. So, aggressive traders might look for buying opportunities for the target of $2.500 and above levels by keeping $1.400 as SL. However, if prices slipped below $1.400, bear’s may drag the prices towards $1.000 and below levels.
Technical levels
Resistance levels : $2.500 and $3.015
Support levels : $1.400 and $1.000
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.