Despite the increased price volatility in the crypto market in recent weeks, Helium price has recorded a strongly bullish forecast, highlighting the increasing interest of investors in this altcoin.
Therefore, questions like “Will HNT price reach $10?”, “How high will helium price go?” and “Does HNT have a future?” are constantly increasing.
In this article, we have uncovered the market sentiment, price action, and short-term price targets of the crypto token Helium (HNT).
HNT price forms an ascending channel pattern
With a rise of about 10% in the last seven days, Helium price has successfully retested its support trend line of the ascending channel pattern. Notably, this altcoin has been trading within this trend pattern since July. This highlights an increasing bullish influence for the HNT cryptocurrency in the market.
Moreover, it has increased by 48.26% in the last month and has an annual return of +6.40%. Moreover, this project has secured the 58th spot on the global cryptocurrency list with a market capitalization of $1.204 billion.
The SMA indicator has undergone a positive crossover on the 1D time frame. This indicates a bullish forecast for the Helium coin price in the coming period.
The Moving Average Convergence Divergence (MACD) has shown a steady decline in the red histogram, with its averages showing a high probability of bullish convergence. This indicates increased buying pressure for the altcoin in the crypto market.
Will the price of helium rise?
If the market continues to gain momentum, the HNT price will test its resistance level of $8,010. If the bulls sustain its value above this level, this altcoin will prepare to head towards its overhead resistance level of $9,510.
On the other hand, in case of a bearish trend reversal, the Helium token will retest its support level of $6.525. And if the bears gain strength, it will crash to its lower support level of $5.155.
Also read our IOTA (MIOTA) price prediction 2024-2030
