invezz.com
Helium ($HNT) has been on a remarkable run over the past week.
The token surged by more than 82% over the past seven days, reaching around $1.50.
This sharp climb has put $HNT well above both its 7-day and 30-day simple moving averages, signalling a strong short-term uptrend.
While the momentum is undeniable, the rally has pushed the seven-day RSI to over 72, highlighting extreme overbought conditions.
Such readings suggest that while traders continue to buy into strength, the market may be vulnerable to a short-term cooldown.
Why is the price of Helium coin rallying?
Part of $HNT’s surge can be traced to the broader crypto market environment.
Capital has been rotating into altcoins as Bitcoin dominance dips.
This risk-on sentiment has favoured $HNT, amplifying its recent price moves.
At the same time, the token’s network fundamentals offer a long-term narrative.
Helium ($HNT) is a decentralised blockchain platform designed for IoT devices.
It allows devices to transmit and exchange data across the network by linking to nodes known as Hotspots.
These Hotspots act both as wireless gateways and blockchain miners, letting users earn $HNT tokens as mining rewards.
As the Helium network continues to grow, more active hotspots mean increased adoption and use of the token.
Helium price technical analysis
Helium ($HNT) is trading far above its short-term averages, which indicates strong buying pressure.
But the overextended RSI suggests that this momentum could slow.
Technically, the daily pivot point at $1.42 is critical.
Holding above this level could allow the rally to continue toward the 200-day moving average around $2.01.
If $HNT fails to maintain support at $1.42, a pullback toward the 30-day MA near $1.06 is likely.
The token’s rebound from long-term lows shows that momentum trading is driving the market rather than a new fundamental catalyst.
This means traders need to monitor key levels carefully, as any loss of momentum could result in sharp short-term corrections.
$HNT price forecast
For traders, the immediate focus is on support and resistance levels.
The $1.42 pivot is the first line of defence. Holding above this can sustain bullish momentum.
Next, the 200-day moving average near $2.01 serves as the near-term upside target.
Below $1.42, the trend could reverse quickly, making a retest of the 30-day MA at $1.06 a realistic scenario.
Given the extreme RSI, even a brief pause or correction is healthy for the trend.
$HNT remains in a strong short-term rally, but its current pace is overextended.
At the moment, traders should closely watch the $1.42 support and manage risk as the market digests the recent gains.