- HNT could potentially surge by 25% to reach the $8.15 level if it closes a daily candle above the $6.50 level.
- Since the 20th of November, whales and investors have consistently been accumulating.
As a seasoned crypto investor with battle-tested nerves and a knack for spotting promising opportunities, I find myself intrigued by Helium [HNT]. Despite the ongoing bull run that saw many major assets soaring, HNT has maintained its composure, which is a trait I admire in both investments and people.
Despite the persistent bullish trend, Helium (HNT) has maintained its equilibrium, while many other significant assets have seen a surge in upward momentum.
At the current moment, as I analyze the chart for HNT, it suggests a promising upward trend that might trigger a rally, catching the attention of both investors and traders alike.
All eyes on Helium
Following the emergence of a bullish pattern in the token’s price movement, there was a noticeable surge in traders’ enthusiasm and faith towards the token.
As reported by the cryptocurrency analysis company Coinglass, there’s been a 8.5% increase in Open Interest for HNT over the last day, and also a 4.7% rise within the previous four hours.
The rising Open Interest indicates that traders are expanding their holdings, likely due to a change in the overall feeling or attitude towards HNT.
Besides traders showing an inclination towards the altcoin, it seems that both individual investors and large-scale investors (whales) have been amassing these tokens. This is suggested by the HNT Spot Inflow/Outflow statistics.
Since November 20th, based on Coinglass data, there’s been a consistent pattern of whales and investors buying up tokens. However, in the case of HNT, there has been a persistent outflow, indicating more tokens are leaving than entering.
In addition to the optimistic on-chain indicators, Helium Network Token’s price chart is pointing towards an upward trend, suggesting potential direction for the token’s price over the next few days.
Upcoming levels
Based on AMBCrypto’s technical assessment, HNT was about to burst free from a downward trending channel. At the moment, its value is gathering strength within a narrow band close to the upper limit of the corresponding chart pattern.
If Helium Network (HNT) manages to break its current price trend and ends the daily session above $6.50, there’s a possibility that it may rise by approximately 25%, potentially reaching around $8.15 in the near future.
Right now, the general attitude towards the market seems optimistic, as most altcoins are being traded above their 200-day Exponential Moving Averages (EMAs), according to the daily chart perspective.
Furthermore, its Relative Strength Indicator (RSI) hinted at an upcoming bullish trend for the next few days.
Read Helium’s [HNT] Price Prediction 2024–2025
Looking at its daily chart, Helium Network Token’s Relative Strength Index (RSI) was around 52, which is close to the oversold region. This suggests that a potential upward trend could soon take place.
Currently, Helium Network Token (HNT) is close to $6.25 per token, marking a modest rise of approximately 1.25% over the last day. Simultaneously, there’s been a 10% surge in trading volume, suggesting a greater involvement from traders during this 24-hour period.
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2024-11-27 05:12