- Helium interrupted a declining trend in terms of the hourly price chart, with massive trading volume.
- After ten days of the trading session, trading volume increased by 488% compared to the previous night, suggesting excessive buying potential.
- Helium coin with bitcoin pair favors the bulls by 15.6% at 0.0002919 satoshis.
Since early April, Helium investors have been battling selling pressure. Meanwhile, price action shows lower-low formation on the daily chart, with bears turning each rise into best-selling opportunities.
HNT on 4-hours chart
In terms of the 4-hours chart, the bulls finally defied selling pressure by disrupting a down-sloping trendline with massive trading volume the previous night. Finally, in the intraday trading session, the price action shows a slight retracement phase as the coin is down 4% with the presence of the $9.1 mark at that time.
After a solid uptrend, helium investors accumulate the altcoin price to move towards the conceptual round level of $10 as their next stop. Meanwhile, the market cap has risen above $1 billion, up more than 20% from last night.
Similarly the USDT pair with the Bitcoin pair, Helium Coin is favoring the bulls by 15.6% at 0.0002919 satoshis. However, after 10 days of trading session, trading volume increased by 488% compared to the previous night, which suggests excessive buying potential in HNT coin.
HNT on Daily price scale
The bulls are barely managing the HNT price above the 20-day exponential moving average on the daily chart since last night. However, it is the first sign of a bullish move if the bulls manage to move the price above it.
But the Daily RSI fell after hitting the peak semi-line (50 points). Above this halfway point, the bulls will likely gain a crucial $10 level.
In addition, the ADX helium coin shows extremely deliberate bullish momentum.
Conclusion
Despite the retracement, helium investors are accumulating for the altcoin price to reach the crucial $10 round level by the end of the week.
Technical Levels
Support level- $6,5 and $5.0
Resistance level- $10 and $16
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.