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Helium Breaks Falling Channel: Can HNT Rally Surpass $10?

Author: Content Editor
Helium (HNT) is one of the best-performing cryptocurrencies, with its native token experiencing a 33.55% increase last week. The HNT market capitalization is nearing $1.5 billion, and there is speculation on whether the price will surpass the $10 mark. The recent price action shows a breakout from a falling channel pattern, and if it closes above the 78.60% Fibonacci level, a new breakout rally could occur. Positive indicators, such as the MACD and EMAs, support the potential for an extended rally. Additionally, rising network usage and increased demand for HNT tokens have a deflationary impact on the circulating supply, boosting positive sentiment. The immediate price target is $10, with a possible future target of $11.96. However, a failure to close above the Fibonacci level could result in a downside risk of nearly 13%.

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