- The HNT coin’s daily RSI line moving at the overbought zone
- The HNT/BTC pair was trading at 0.000755 BTC with a gain of 16.54%
- The 24-hour trading volume in HNT is $156.7 Million, indicating a 69.5% loss
As mentioned in my previous article on Helium, the HNT chart showed a remarkable rally, where its price has surged around 90% in just one week. On November 7th, the coin made a New All-Time High of $52.5; however, later that daily candle showed a considerable higher price rejection.
Furthermore, the coin price managed to sustain above the $40 mark, and today it continues to move forward.
Concerning the EMAs; The HNT coin’s price is trading significantly higher than the EMAs 20, 50, 100, and 200, indicating a solid bullish trend in its chart.
The RSI value (BULLISH) is 89, indicating a bullish sentiment about this coin. However, it also projects the coin has reached an overbought level.
The HNT Coin Chart In The 4hr Time Frame
This lower time frame chart showed a clear pullback of HNT price to the $40 mark. The coin obtained good support from this level, and now it’s trying to break out of the $50 resistance. If a 4- hour candle closes above this level, the coin would have a good chance to rise back to the ATH level.
As per the traditional pivot levels in the daily chart, the nearest resistance for the HNT coin price is $59.3, followed by $68. And on the flip side, the nearest support the crypto traders can expect is $50, followed by $41.
Conclusion: From a technical perspective, the overall trend for the HNT coin is strongly bullish. And as mentioned, after a minor retracement, the price indicates a reasonable possibility of climbing back to the $59.3 level.
Having said that, a proper confirmation for uptrend continuation will be obtained once the price breaks free from the ATH level.
Support – $50
Resistance – $49.3