The Helium crypto looks bullish on a daily and above all time frame, after registering a 2022 low at the $3.18 mark. The bulls are slowly accumulating HNT coins despite the uncertainty in the crypto market. Buyers are now becoming stronger than sellers on the price action side.
At the time of writing, Helium Crypto against USDT pair is trading with a 4.5% intraday gain at the $5.16 mark. Thus, the HNT coin is up 20% this week. Furthermore, the bitcoin pair with helium crypto is up 3.4% at 0.0002753 satoshis.
Helium Crypto is forming above bottom levels and it looks like the price action will be showing a rounding down pattern on the weekly chart. However, bears are still present in the market, while HNT Coin has recovered almost 65% of the costs in the last 30 days so far.
In September, speculators saw a highly volatile market compared to previous months. At this time, the bears are waiting at the 20-EMA on the weekly chart, to dump the Helium crypto once again. But the bulls have a key defense area near the $3.0 level, which is close to the 2022 lows.
Bulls Are Aiming to Breach 50-EMA
In the context of the daily price chart, the price action is showing a high-low formation above the bullish trend line. Amid price accumulation, buyers breached the resistance trend line last night, as well as successfully holding the price above the 20-day exponential moving average and the rest of the EMA lines 50, 100 and 200 are well above the current price.
However trading volume is decreasing and its observation is less compared to the bullish momentum. Conversely, the daily RSI indicator is moving above the semi-line (50 level), and is potentially moving into overbought territory.
Conclusion
The Helium crypto is moving towards the 50-day exponential moving average, while the bulls manage to move above the upward trend line. Furthermore, the RSI indicator shows positive signals until its peak is in the overbought zone.