Helium (HNT) Price Could Rally Towards $20, Crypto Analyst Erik Predicts

Helium is starting to pick up steam after its price dropped pretty low. The crypto is known for connecting real-world devices to blockchain networks.

Cryptocurrency market analyst Erik has shared his analysis on the price trajectory of Helium (CRYPTO: HNT), highlighting key support and resistance zones.

According to Erik's technical analysis, HNT's price could rally toward the $18 to $20 range. Here's a closer look at his analysis and insights.

Helium Technical Analysis

Erik's chart analysis showcases Helium's strong recovery from its macro bottom, where a reversal in the downtrend is evident. After establishing higher highs and higher lows, the cryptocurrency has displayed a bullish market structure.

Critical support zones are marked at $3.5 and $5, with $7 identified as the level that bulls need to protect to maintain the uptrend. Resistance zones are placed between $18-$20, which Erik predicts as the next target range.

An intermediate level at $11 serves as a crucial pivot point, and its reclamation could confirm the upward movement of HNT's price. The High Time Frame (HTF) Point of Interest bounce level, where significant buying interest was observed, has been a focal point for the current rally.

Erik's Analysis: HNT Retrace, HTF POI Bounce

The analyst highlights Helium's retrace to a discount zone and its subsequent bounce from the HTF POI level. He anticipates a "massive rally" toward the $18-$20 range. Erik connects Helium to the broader DEPIN ecosystem, where projects like $AUKI, $PEAQ, $NATIX, $HONEY, $NCN, and $ATH are mentioned.

This connection showcases Helium's relevance and potential as a leader in the DEPIN space. Erik's consistent call for followers to "stay tuned" reflects the broader community interest in HNT and its future price movement.

Helium's current price trajectory shows it poised for further growth, with key levels playing pivotal roles in its progression. The $7 support zone must hold to sustain bullish momentum, while $11 serves as a stepping stone to reach the $18-$20 target range. Both technical and fundamental narratives align, strengthening Helium's position as a DEPIN leader. As the market awaits further updates, traders and investors will be monitoring these levels.

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