HeliumLong
Will HNT Price Cross $20 With Triangle Breakout?
Helium (HNT) has a market cap of 1.14B and ranks #60 in the crypto market, with a 13.16% decline over the past week.
Despite the drop, HNT has seen a significant 120% increase in the last 90 days, indicating a strong recovery phase.
The price is currently trading within a symmetrical triangle pattern, suggesting consolidation between $7.782 (78.60% Fibonacci) and $6.365 (61.80% Fibonacci).
A falling wedge breakout in early July from $3 fueled a recovery rally, leading to the current symmetrical triangle formation.
HNT is trading above the 100-day EMA, but bearish momentum within the triangle raises concerns over a breakdown.
Despite bullish alignment in the 50-day, 100-day, and 200-day EMAs, MACD and signal lines show a declining trend with negative histograms.
A bullish breakout from the triangle could target $14 and $21 based on Fibonacci extensions.
On the downside, key support levels are at $6.36, $5.527, and $4.80.
The price is at a pivotal moment, with the support confluence around the 100-day EMA and local trendline holding the short-term trend in balance.
A rounding bottom reversal pattern with a neckline at $1.10 could further fuel a bullish breakout rally.
Despite the drop, HNT has seen a significant 120% increase in the last 90 days, indicating a strong recovery phase.
The price is currently trading within a symmetrical triangle pattern, suggesting consolidation between $7.782 (78.60% Fibonacci) and $6.365 (61.80% Fibonacci).
A falling wedge breakout in early July from $3 fueled a recovery rally, leading to the current symmetrical triangle formation.
HNT is trading above the 100-day EMA, but bearish momentum within the triangle raises concerns over a breakdown.
Despite bullish alignment in the 50-day, 100-day, and 200-day EMAs, MACD and signal lines show a declining trend with negative histograms.
A bullish breakout from the triangle could target $14 and $21 based on Fibonacci extensions.
On the downside, key support levels are at $6.36, $5.527, and $4.80.
The price is at a pivotal moment, with the support confluence around the 100-day EMA and local trendline holding the short-term trend in balance.
A rounding bottom reversal pattern with a neckline at $1.10 could further fuel a bullish breakout rally.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.