Helium (HNT) Price Retests Its Important Resistance Level After a 24-Hour Jump of ~21%

With a 24-hour jump of ~21%, the HNT price has reclaimed the $4 mark. The technical sentiments indicate increased bullish action and hint at a higher price target.

The HNT price has surged by an impressive 24-hour jump of ~21%, reclaiming the $4 mark. A technical analysis of the HNT price chart reveals bullish sentiments and suggests higher price targets.

The HNT price has undergone a notable correction amidst the price volatility in the crypto market. Currently ranked 94th, the altcoin has a market capitalization of $728.884 million, with a YTD return of -34.59%.

As the crypto market continues to experience high volatility and uncertainty, will this altcoin maintain its bearish price action and reach a new 52-week low this month? Or can we expect a bullish reversal? Join us for a brief price analysis of the Helium (HNT) crypto token today.

Helium Price Retests Its Important Resistance Level!

The HNT price has surged by 20.98% in 24 hours, with a trading volume of $12.054 million. Additionally, it has gained over 22% in the past week. However, this altcoin has displayed a negative long-term action, indicating a bearish outlook for the HNT coin price.

In the daily time frame, the Relative Strength Index (RSI) records a sharp spike toward the neutral point. Furthermore, the Helium price is supported by its average trendline, which may continue to drive its value up in the upcoming period.

On the other hand, the SMA indicator in the Helium price chart showcases a positive crossover, indicating a positive outlook for the altcoin this week.

Can HNT Price Ever Recover?

If the bulls regain momentum, the Helium price will retest its resistance level of $5.155. Moreover, if the bullish sentiment intensifies, this could push the price of the HNT token toward its upper resistance level of $6.525 in the upcoming time.

On the contrary, if the bears maintain dominance, the HNT price will retest its support level of $3.80. That said, if the bearish sentiment intensifies, this could pull the HNT coin price toward its crucial low of $2.510 this month.

If you’re curious about the long-term price prospects of the HNT token, check out our latest Helium Price Prediction for some intriguing insights!

FAQs

With the volatility in the cryptocurrency market, the HNT price has surged by over 21% in 24 hours.

Considering the present market sentiments, the HNT crypto token may reach this price target by the year 2031.

At the time of writing, the value of one HNT crypto was $4.117.