- Helium’s token price seems to be climbing gradually after attaining stability during the intraday session
- The token’s weekly performance went up by 4.53% after observing a change in its CMP by 3.71% since yesterday’s closing price
- The overall bullish sentiment of the token seems to be increasing its demand amongst long-term investors
Helium’s price has been rallying up on the chart after the token managed to recover from December’s crash. HNT stayed bearish after the crash and recorded multiple dips before gathering momentum for its recovery rally. The HNT/BTC pair saw an increment in its value by 4.81% during the intraday session, followed by the HNT/ETH pair with an intraday gain of 3.47%. The market cap of HNT experienced an increment of 3.73%. The 24-hour trading volume pushed upward by 145.37%. The volume to market cap ratio stands at 0.01121.
HNT stayed bearish during the first and second weeks of December but was soon overturned by a strong upclimb. The Helium hourly chart shows the ongoing bullish situation of the token. The 50, 100, and 200 MA lines currently run below the CMP candle, while the 100 MA supports the price action tight-knit with a trend line. The trend lines appear to form an ascending triangle. Still, HNT may turn sluggish as it goes beyond the triangle (upper rectangular region) or down due to loss of demand (lower rectangular region).
Helium’s Daily Chart shows a robust bullish recovery attempts
The HNT daily chart shows the current gradual bullish recovery of the token. The MACD line is over the zero level, and the signal line rallies upward to mark a bullish trend. The RSI lies in the neutral level but dangerous rallies near the overbought zone due to a rise in demand.
Conclusion- Helium may benefit its intraday traders till it hits its saturation, as explained with the help of an ascending triangle. The long position holders may consider the CMP as an entry point, but with due diligence.
Resistance- $56.85
Support- $23.2
DISCLAIMER: The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.