Helium Price surges 26%; Will HNT Price give follow up momentum?

• Helium Price surges 26% in previous sessions and attempts to break the $2.00 hurdle.
• HNT Price sustains above the 50 day EMA shows the short term trend is reversing.
• Helium Price Prediction will turn bullish if it breaks out of the $2.500 hurdle.

Helium Price surges 26% in a single day and created a hope for the bullish trend reversal. It breakout of its narrow range consolidation which triggers mild positive sentiment. 

HNT Price sustains above the 50 day EMA shows that the short term trend is reversing upward. Well, the 200 day EMA is coming closer which might act as a strong hurdle for the bulls. 

In the mid of April, HNT Price attempted to break the $2.00 hurdle. Sadly, the attempts failed and prices reverted in a downward direction. Later, prices declined by forming lower lows and the previous gains. The downfall halted near $1.00 and prices entered into consolidation. 

Helium crypto consolidated for almost 2 months and formed a strong base near $1.00 which will now act as crucial support. Presently, the prices showed a bounce and engulfs the losses of past few months. 

Helium Price is trading at $1.606 with an intraday decline of 10.63%. The 24 hour volume to market cap is 4.35%. 

The pair of HNT/BTC is trading at 0.00005170 with an intraday decline of 13.34%. It formed a similar pattern like the USDT pair and also showed a bounce from the yearly lows.

Will Helium Price return back to bullish track?

Helium Price fell 55% approx from the yearly high and disappointed the expectation of the long term investors. 

In the months of March, HNT Prices showed a steep fall and sudden rise in the selling volume also visible. It indicates that some big players might have exited from higher levels. 

Presently, the overall market sentiment is improving due to that HNT and other Altcoins is turning bullish. But, It will be interesting to see whether buyers are able to hold the gains of previous sessions or not? 

Till Helium Price is sustaining above the 50 day EMA the possibility of bounce remains high. But the prices will give positive momentum only after the breakout of the $2.00 hurdle.

HNT Price reversing down from oversold territory

HNT Price is still stuck inside the wide range of consolidation. The buyers tried well but it lacks the momentum near $2.00. The massive spike in the buying volume is visible but it seems to be a speculative up move. 

The MACD curve rises above the zero line and displays a positive crossover. It indicates bulls are returning back to track. The histogram bar is also on rise which favors the bulls. The RSI at 61 collapsed down from the overbought territory. 

Conclusion

Helium Price surges 26% in a single day and attempts to break the higher range of consolidation. Well, HNT Price is lacking momentum and faces a hurdle at $2.00. 

The technical analysis suggest, the recent up move is speculative and prices are still inside the bear grip. 

Technical levels

Resistance levels: $2.000 and $2.500

Support levels: $1.112 and $1.000

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.