- The daily RSI line for HNT coin is moving in the overbought zone
- During the period under review, the HNT/BTC pair increased by 16.54 percent and was trading at 0.000755 BTC
- HNT has been traded for $156.7 Million over the past 24 hours, indicating a loss of 69.5%
In just one week, HNT’s price has surged by around 90% on its chart. In the early hours of November 7, the coin reached an All-Time High of $52.5; however, that daily candle subsequently showed a marked downward movement in the form of considerable price rejection
Furthermore, the coin price managed to sustain above the $40 mark, and today it continues to move forward.
Concerning the EMAs; The HNT coin’s price is trading significantly higher than the EMAs 20, 50, 100, and 200, indicating a solid bullish trend in its chart.
The RSI value (BULLISH) is 89, indicating a bullish sentiment about this coin. However, it also projects the coin has reached an overbought level.
Helium Crypto; 4hr window Coin Chart
This lower time frame chart showed a clear pullback of HNT price to the $40 mark. The coin obtained good support from this level, and now it’s trying to break out of the $50 resistance. If a 4- hour candle closes above this level, the coin would have a good chance to rise back to the ATH level.
As per the traditional pivot levels in the daily chart, the nearest resistance for the HNT coin price is $59.3, followed by $68. And on the flip side, the nearest support the crypto traders can expect is $50, followed by $41.
Conclusion: From a technical perspective, the overall trend for the HNT coin is strongly bullish. And as mentioned, after a minor retracement, the price indicates a reasonable possibility of climbing back to the $59.3 level.
Having said that, a proper confirmation for uptrend continuation will be obtained once the price breaks free from the ATH level.
Support – $50
Resistance – $49.3
Original article can be found at //themarketperiodical.com/2021/11/09/helium-price-analysis-hnt-coin-aims-to-continue-its-rally/
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
