Helium (HNT) price has seen a significant decline over the past several trading sessions. However, HNT is currently in the midst of a consolidation phase which could soon be ended with a bullish breakout. This is due to the network being only 11 days away from launching on Solana mainnet, which may spark a strong wave of buying from investors and accelerate the already growing presence of buyers in the market.

Technical indictors such as Bollinger Bands, Commodity Channel Index (CCI), RSI, MACD and Super Trend are all predicting a potential bullish wave occurring at this stage. Looking further out, the Super Trend is showing a possible bearish trend coming to an end right before the bullish wave may take form. Meanwhile, MACD is forming a converging pattern as it records descending seller bars and declining sales. RSI is rising from the half-line to indicate increasing buyer engagement with the market.

Support levels for HNT are currently set at $1.2185 and $1.1000 and resistance is set at $1.5330 and $1.9055. If the resistance near $1.5330 is broken, the projected price for HNT is expected to reach $2.00. All in all, Helium’s upcoming launch on the Solana mainnet could incentivize investors to buy HNT and propel it to a bullish wave strong enough to break out of the current consolidation phase and set a new 52 week-high.



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