The Helium price has displayed a significant correction in its valuation amid increased price volatility in the crypto market. Moreover, with a Year-to-Date (YTD) return of -34.59%, this altcoin has secured the 94th position with a market capitalization of $728.884 million.
With the rising uncertainty, will this altcoin maintain its bearish price action and achieve a new 52-week low this month? Or is a bullish reversal incoming? Let’s understand the short-lived price analysis of the Helium (HNT) crypto token today.
Helium Price Retests Its Important Resistance Level!
The HNT price has surged 20.98% in 24 hours with a trading volume of $12.054 million. Moreover, it has added over 22% to its valuation in the past week. However, this altcoin has displayed a negative long-term action, hinting at a bearish outlook for the HNT coin price.
The Relative Strength Index (RSI) records a sharp spike toward the neutral point in the daily time frame. Moreover, with its average trendline acting as a support, the Helium price may continue gaining value in the coming time.
On the other hand, the SMA indicator displays a positive crossover in the Helium price chart. This highlights a positive outlook for the altcoin this week.
Will HNT Price Ever Recover?
If the bulls regain momentum, the Helium price will retest its resistance level of $5.155. Moreover, if the bullish sentiment intensifies, this could push the price of the HNT token toward its upper resistance level of $6.525 in the upcoming time.
On the contrary, if the bears maintain dominance, the HNT price will retest its support level of $3.80. That said, if the bearish sentiment intensifies, this could pull the HNT coin price toward its crucial low of $2.510 this month.
Are you one of many who are wondering about the long-term price prospects of the HNT token? Read our latest Helium Price Prediction to uncover the possible mysteries!
FAQs
Amid increased volatility in the cryptocurrency market, the HNT price has surged over 21% since yesterday.
Considering the present market sentiments, the HNT crypto token may achieve this price target by the year 2031.
At the time of writing, the value of one HNT crypto was $4.117.
