CandleFocus

Is Now the Right Time to Buy HNT?

Author: Content Editor
The cryptocurrency Helium (HNT) has experienced significant upward momentum, with a 7% increase in the past 24 hours and an 11% rise in trading volume. Over the past month, HNT has climbed 25% and broke past the $8.40 mark. Analysts have identified a "cup and handle" pattern on the price chart, indicating a potential for a strong bullish rally. Projections suggest that HNT could rally to $20, representing a 143.27% gain from its current level. However, reaching this target will require overcoming expected sell pressure around the $20 resistance zone. The formation of a golden cross on the price chart also indicates a strong bullish momentum. The Relative Strength Index (RSI) is at 64, suggesting room for further gains as buying activity intensifies. In the derivatives market, sentiment leans bullish, with a surge in long positions and a positive funding rate. Analysts will closely monitor resistance levels to gauge the sustainability of the bullish trend.

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