Despite a strong uptrend over the past few months, Helium (HNT) has failed to hold its own against Tether (USDT), with the price falling to around $5 from an all-time high of $50. Bitcoin (BTC)’s recent price surge has had a positive impact on the overall market as most altcoins continue to show strength and post gains in excess of 100%, with helium (HNT) price also in the picture due to its impressive recovery. (Binance data)
Helium (HNT) price analysis on the weekly chart
HNT price struggled to repeat its recent upward move which saw the price rally to $50 on strong bullish sentiment.
After falling from a $50 high to a $4 low, HNT has struggled to stay afloat. HNT has formed strong support at $4, which appears to be a good area for most traders to place buy orders.
HNT price could end the week on a more bullish note ahead of a new weekly candle. With such strong sentiment, HNT could top out at $8 and possibly $12.
HNT price is facing resistance at $6.5 as it cannot trend higher in price; If HNT flips this region, we could see the price go up to $8-$10 and even higher.
Weekly resistance for the price of HNT – $6.5.
Weekly support for the price of KNC – $4.5.
Price analysis of HNT on the daily chart (1D).
Daily HNT Price Chart | Source: HNTUSDT On Tradingview.com
HNT price was rejected by $25 when it fell to a low of $4; HNT’s price recovered from this after forming support to withstand sell orders.
HNT surged from a low of $4 to $5.7 before facing resistance in its attempt to break above $6.5.
HNT is trading at $5.7 on the daily timeframe and is attempting to break and sustain above the 50 exponential moving averages (EMA). The $7 price corresponds to the 50 EMA, which acts as a price barrier for HNT.
HNT needs to break above $7 which is serving as resistance for HNT price. If HNT breaks and closes above this level, the price could surge to $10-12.
Daily resistance for HNT price – $7.
Daily support for HNT price – $4.5.
HNT price analysis on the four hour (4H) chart.
HNT price chart for four hours | Source: HNTUSDT On Tradingview.com
After breaking out of its long downtrend, HNT’s price remains bullish on the 4-hour period. HNT trades above 50 but below 200 EMAs; a break and sustain above the 200 EMA to form support would indicate bullish price action for HNT.
The prices at the 50 and 200 EMAs are $4.7 and $6.2, respectively.
Looking at the 4-hour chart, the Relative Strength Index (RSI) for HNT is above 70 indicating heavy buy order volume.
Four-hour resistance for the HNT price – $6.2.
Four-hourly support for HNT price – $4.7.
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