Helium (HNT) Gains Momentum; Key Resistance Could Trigger Bigger Upside

• Helium (HNT) has gained over 8%, trading at $2.72
• HNT’s daily trading volume has dropped to $20.15 million.

The crypto market’s recovery attempts have seen light with a modest gain of over 2.52%, which has placed the market cap to settle at around $4.1 trillion. All the major digital assets are charted in green, reclaiming the lost momentum. Will the market stay strong and usher in a new bullish surge?

Among the altcoins, Helium (HNT) followed suit, and surged by over 8.51% in the last 24 hours. In the early hours, as per CoinMarketCap data, the asset traded at a low of $2.49. As the bullish pressure took control of the asset, the price has risen to a daily high at around $2.76

To confirm the bullish momentum, HNT broke the crucial resistance between $2.53 and $2.72 zones. At the time of writing, Helium traded at the $2.72 level, with its market cap reaching $503.94 million. Moreover, the daily trading volume has dropped by 6%, touching the $20.15 million mark

HNT Price: Is It Ready for the Next Breakout?

The 4-hour technical analysis of Helium reports that the MACD line settles above the signal line, hints at a positive outlook. The buyers are stronger than sellers, indicating upward price movement. Besides, the CMF indicator value of 0.21 points out the bullish momentum and the money is flowing into the asset. The value is above 0 but not extremely high, suggesting a moderate strength in buying activity.

*HNT chart (Source: TradingView)*Helium’s RSI is found at 72.59, which shows that the asset is in the overbought territory. There is strong bullish momentum, but a pullback or correction could occur. Moreover, the BBP value of 0.224 signals bullish dominance. The positive reading confirms the upward momentum in the market. The bulls could control the price movement.

The uptrend of Helium lit the green candles, entering the bullish territory. The potent bulls might take the price to the key resistance range at around $2.79. Additional correction on the upside would trigger the golden cross to unfold and push the asset above the $2.86 mark. If the bears stepped in, the price chart may turn red and slip to the immediate $2.65 support level. More loss in value might drive down the Helium price below $2.58, with the support of the emerging death cross.

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