- Helium’s bullish thesis will hold only if the daily candle closes above the $9.80 mark.
- HNT’s Open Interest has soared by 13%, indicating growing participation from traders amid a potential breakout.
As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed many bull and bear runs, market corrections, and rallies that have shaped my understanding of the crypto market.
In the current turmoil within the crypto market, Helium [HNT] seems to present profitable chances for traders.
Nevertheless, HNT has garnered interest among cryptocurrency aficionados due to a strong 32% surge in recent days. This substantial price increase suggests a positive trend on the daily chart, indicating a possible upcoming upward trend.
Helium — Price prediction for December 2024
Based on AMBCrypto’s technical assessment, the Helium Network Token (HNT) is currently facing a significant resistance point at approximately $9.45. In the past, this level has often been a source of substantial selling pressure, which has typically resulted in price drops.
As an analyst, I’ve noticed that for the third consecutive attempt, HNT has encountered a significant obstacle. Over the last two days, its value has seen a downturn.
Looking at current trends, if Helium Network Token (HNT) manages to break through its current resistance and ends the day trading above $9.80, it’s quite likely that we might see HNT increasing by approximately 30%, potentially reaching around $12.60.
If the price doesn’t manage to break through the resistance, it might drop by about 10% to hit the $8.10 mark instead.
Looking on the optimistic side, the current Relative Strength Index (RSI) of this altcoin is 60, which means it’s not yet overbought. This suggests there’s ample potential for the value of the asset to increase substantially over the next few days.
If the day’s closing price goes beyond $9.80 for HNT, then the positive outlook is likely to prevail; if not, there’s a possibility that it might not succeed.
Rising trader and long-term holder interest
Furthermore, it seems that traders’ enthusiasm and faith in the altcoin are growing steadily, according to the data provided by Coinglass, a company specializing in on-chain analysis.
It appears that the open interest for HNT’s Futures has increased by 13% over the last day, suggesting a rise in trader involvement as they predict a potential price surge.
At the same time, it appears that long-term investors are expressing an interest in the altcoin as well. The data from HNT’s spot inflow/outflow shows that exchanges have experienced a relatively small withdrawal of approximately $365,000 worth of HNT.
Based on my years of experience in the cryptocurrency market, I believe that when long-term holders start withdrawing tokens from exchanges, it often signals a potential rally. As someone who has seen numerous bull and bear markets, this pattern usually indicates a shift in sentiment towards a positive outlook, making it an ideal buying opportunity for those looking to invest or add to their existing portfolio. It’s essential to keep a close eye on such trends, as they can provide valuable insights into the market’s overall direction.
Read Helium’s [HNT] Price Prediction 2024 – 2025
By integrating these blockchain indicators with traditional chart analysis, it seems that the buyers (bulls) have a strong control over the asset at present, potentially enabling HNT to surmount the obstacle it’s encountered for quite some time.
HNT’s current price momentum
Presently, Helium Network Token (HNT) is hovering around the $8.85 mark, showing a significant increase of 5.5% over the last 24 hours. Concurrently, its trading activity saw a substantial spike by approximately 273%, suggesting robust interest from traders and investors.
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2024-12-15 19:03