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The Bitcoin price has remained bearish for the past few months and altcoins have displayed sharp selling. Despite this, the Helium (HNT) price has performed positively and has risen by 120% since July. The HNT price has been increasing by generating higher highs and higher lows.
However, the crypto asset price has dropped to the higher low zone and has formed a bullish candlestick. It has managed to defend the last swing low and exceeding the 20-day EMA may boost the momentum.
Could the HNT Crypto Remain Green Ahead?
6.1.APE (@LEAVERAGE_LABS) is a crypto expert who says that the HNT crypto has the potential to gain 61.8% in the next few weeks.
$HNT ideally we want a pullback here to about 5.50 to run it up to the 61.8% on chart. https://t.co/FGG0cVUyCY pic.twitter.com/YMFqU1WECS
— 6•1•APE (@LEVERAGED_LABS) September 15, 2024
Big players may show interest if the price melts slightly and liquidates the last swing low. Strong buying momentum can be anticipated if the HNT price triggers pullback from this zone and may record a new ATH.
Is HNT Crypto Wandering in the Buying Zone?
PS trade (@PStrade2) is a cryptocurrency analyst, who has shared his opinion on X (formerly twitter). He claims that the Helium coin price has reached the purchase zone 2 and has generated bullish momentum.
$HNT
— PS trade (@PStrade2) September 15, 2024
The price of #Helium has reached the purchase zone 2, which we wrote about in our previous post on September 12. The #HNT price has dynamically bounced from the 7.2$ liquid zone. We are waiting for the trade to be realized. https://t.co/RuQRRTV7QC pic.twitter.com/dYfhFKfzE2
The HNT price has dynamically bounced from the liquid zone of $7.20. Bullish momentum from this zone could witness strong buying pressure in the long term. It may record a new all-time high (ATH) in one go.
Could the HNT Price Record a New ATH Soon?
When writing, the Helium crypto was trading at $7.37 which has dropped by 1.38% over the past 24 hours. The 24-hour trading volume was $14.90 Million and the market capitalization was $1.18 Billion.
Based on the technical chart, the HNT crypto price has been in a bullish trend for the past few months. At press time, the price was wandering in the pullback territory. Moreover, the price has dropped to the 20-day EMA which could create fear among the buyers.
Assuming the price surpasses the 20-day EMA and sustains then buyers may show interest in pullback. During this momentum, the price may surpass the last swing high and extend to the $10 mark. Helium price prediction suggests a bullish momentum after the pullback.
Suppose the digital asset price slips below the ascending trendline, it could be a bearish signal. If the price loses the 200-day EMA, profit booking can be seen which may lead to a bearish trend.
Turning to the technical indicators, the MACD has generated a bearish crossover with the Signal line and the histograms have flipped to red. The RSI has developed a death crossover with the RSI-based moving average which showcases the bearish forecast.
HNT Crypto Price Analysis and Forecast
The HNT price has been in a bullish trend and has risen by 120% since July. This coin has remained bullish despite the bearish cryptocurrency market. However, the price has reached the higher low zone and formed a bullish candlestick pattern.
At press time, the price was declined by a 20-day EMA which could be a bearish sign but exceeding this EMA might invite buyers. MACD and RSI are in favor of a bearish forecast and the price is expected to decline further.