Helium (HNT) Price Prediction: HNT Defies Market Fluctuations, Eyes Critical Resistance at $9.5

Helium's (HNT) price has been in the market spotlight with a 10% price surge in the last 24 hours. As of writing, the bullish momentum was accompanied by a 12% surge in trading volume.

Helium’s (CRYPTO: HNT) price has surged over 10% in the last 24 hours. At the time of writing, the bullish momentum was accompanied by a 12% surge in trading volume, indicating a jump in investors’ interest in the Web3 token.

As the price of Helium approaches the critical resistance at $9.5, market participants are keeping an eye on whether the rally will maintain its strength or show signs of weakening.

Helium's strong performance: Helium emerged as one of the top gainers in the last 24 hours, showing resilience amid broader market fluctuations. The daily chart indicates a strong rally towards the critical resistance at $9.5, which could largely determine the next move for the token.

A breakout above this resistance might pave the way for a further bullish rally, potentially targeting the $10 psychological level. However, failure to breach it could trigger a pullback.

Market indicators hint at a potential rally: On the daily chart, a clear uptrend is visible. This uptrend is supported by an ascending trendline originating from Helium’s recent lows around $2.8.

The altcoin's price is currently approaching the $8.2 support level, which initially acted as the ascending triangle pattern resistance level.

In shorter time frames, the token is setting the stage for a potential rally, as seen in the recent 10% surge.

Also, Coinglass liquidation data reveals interesting insights into the market's leverage positions. The data reports a 56.70K liquidation pool at the $8.3648 price level.

This indicates a high density of over-leveraged traders' positions, suggesting a rising risk of sharp liquidations if the price fails to continue its ascent from this level.

However, on the brighter side, these positions also present a bullish bias that could help push the price up to a significant price level.

Open Interest (OI) trends support optimism: Open Interest (OI) trends support this optimism, with figures showing sustained growth. This reflects a growing信心 in Helium's price action.

Concurrently, the token’s trading volume aligns with these findings, surging alongside the price, a typical indication of healthy bullish trends.

Broader market conditions have been favorable, with Bitcoin’s steady price bolstering altcoin performance, including HNT. However, the big question is whether Helium can rally past the key resistance level of $9.5.

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As Helium approaches the $9.5 resistance, bulls will need to maintain significant buying pressure to sustain the uptrend. The market's response at this level will be interesting to watch.

A breakout might lead to a swift rally towards $10, while rejection could push the price back to the $7.8-$8 support zone.