With a volatile sideways shift in the HNT price trend, the bull run in late 2023 struggles to climb higher. Following the peak formation at $10, the altcoin took a reversal from the psychological mark. Nevertheless, with a market cap of $990 Million, the altcoin secures #98 rank in the top 100 cryptocurrencies.
With the downfall taking support at a crucial support level, the altcoin reaches a pivotal stage. Further, with the likelihood of an additional boost during the Bitcoin Halving next week, Helium seeks to challenge the psychological mark of $10.
Will this bullish reversal send Helium into a bullish hyperspeed beyond $10? Find out more in our HNT Price Prediction.
Will HNT Price Exceed 50D EMA?
In the daily chart, the HNT price trend shows strong bullish support at the $5.214 mark. With multiple bullish bounce-backs from this zone, a total bullish dominance is visible.
However, the growing stress with the overhead supply challenges the strong support zone. As the Helium price drops to the 200D EMA, the declining 50D EMA warns of a death cross.
Currently, the HNT price trades at $6.127 with an intraday gain of 1.57% and a reversal from the $5 mark. Hence, the reversal rally is a final hope for a prolonged uptrend.
- RSI indicator: the daily RSI line showcases a bullish divergence in the double-bottom pattern. This increases the likelihood of a breakout rally.
Will Helium Prices Explode This Quarter?
With the overall market sentiment seemingly optimistic due tot he upcoming Bitcoin Halving, the altcoins are shifting gears for a jump. Further, the underlying dynamics of the HNT price teases a bounce back from the crucial support with a double bottom. Considering the buyers manage a break above 50D EMA, the altcoin could hit the $10 mark.
Optimistically, the uptrend continuation could reach the $15 mark beyond that.
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