Can Helium (HNT) Keep The Rally Going forward?

Jul 26

The Helium (HNT) has exhibited bullishness on the daily chart, with consistent green candle formation for several days.

As per the broader view of HNT price, it has reached more than 700% gain, which topped at $11.160 by Feb 15th, 2024, from $1.429 significant support. Due to bear strength surging at its peak, bulls started losing their grip.

Hence, HNT witnessed consistent profit booking for approximately 150 days after mid-February, which led to the creation of a bullish pattern, precisely falling wedge formation.

The broader bullish sentiment this July month, led the price to break out. This breakout led to a robust increase of more than 75% in the price in a short 2-week span on the daily chart.

Where its price pierced both EMA bands 50-day & 200-day, MACD histogram on the surge at 0.152. The RSI has met over-bought conditions and at 69.95, which might be a concern (DYOR).

The support levels for the HNT price are $3.01 and $4.24, followed by the resistances of $6.91 and $8.01, respectively.