invezz.com
Helium (HNT) has been among the top performers in the past few sessions.
Bullish price moves over the previous seven days saw its market capitalization soaring from the weekly low of $899 million to $1.16 billion today.
The upside trend indicates a solid bullish resurgence, positioning HNT for stable price actions.
Technical indicators support the upside narrative for Helium.
The token has surpassed the $6.50 resistance, currently trading at $6.53. Staying above this zone would trigger uptrends to $7.2 and beyond.
HNT ripe for extended gains
Helium’s latest performance has seemingly shifted its trajectory to bullishness.
The digital coin sways well above the vital 50-day and 200-day Exponential Moving Averages on the 4-hour timeframe.
That signals a significant buyer momentum, which will likely keep prices elevated in the upcoming sessions.
Furthermore, the EMA lines highlight a potential golden cross.
The bullish pattern emerges when a near-term EMA crosses beyond the longer one, suggesting the beginning of sustained upswings.
The Moving Average Convergence Divergence line crossed the signal line to the upside on the daily chart.
The green histogram bars support the bullish case for HNT.
Furthermore, the Relative Strength Index at 55 indicates more room for upsurges before the alt hits overbought regions.
The indicator climbed from 46 to press time levels within a day, highlighting increasing bullish momentum.
The RSI gauges the speed and strength of price trends on a 0 to 100 scale.
Figures beyond 70 indicate overbought situations and possible declines, whereas beneath 30 reveal oversold conditions, often triggering rebounds.
The current value shows that HNT could rally further before hitting the overbought territory.
The latest Chaikin Money Flow jump from the negative territory adds to the bullish narrative.
The indicators soared from -0.04 on November 26 to +012 at press time, confirming investor confidence in HNT’s performance.
The CMF measures capital flowing in and out of a digital currency, with figures above 0 suggesting buyer dominance and beneath 0 signaling selling pressure.
The current Chaikin Money Flow highlights massive bullishness.
That shows capital inflows supporting the prevailing uptrend. Maintaining this trend would likely mean additional gains for HNT price.
Helium price outlook
The altcoin trades at $6.53 at press time, up 15% in the past 24 hours.
Notably, it surpassed the resistance zone at $6.50, confirming continued upsides before possible declines.
The emerging golden cross would welcome massive bull moves, propelling the altcoin past $7.2 to cement the bullish trajectory.
Nevertheless, sudden selling activity would weaken the uptrend, pushing HNT to crucial support levels.
The token will likely dip to $6.0 before eyeing $5.57 or $5.28. That would lead to a total loss of 20% from current prices.
The post Helium momentum strengthens as it reclaims $1B market cap: what’s next for HNT price? appeared first on Invezz