HNT Price Jumps 40% This Week, Eyes A Rally To $10 

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Finding a sharp increase in demand at the dynamic support of the 50D EMA, the HNT price trend ends the pullback phase of 40%. Following the drop to $2 from the height of $8.7, the Helium price trend regains bullish momentum. 

Leading to multiple bullish engulfing candles, Helium heads to the bullish highway with the Bitcoin Spot ETF approvals. Moreover, the rising trend in trading volume supports the bullish reversal and aligns with our bullish HNT price prediction for 2024 and the coming years.

Source – Tradingview

Following the exponential growth in the last quarter of 2023, HNT price saw a quick pullback at the year’s end. Leading to a 40% to the psychological mark of $2, Helium entered 2024 on a bearish note. 

Nevertheless, the long-awaited decade-long dream of a Bitcoin Spot ETF approval this week puts the HNT price on a hypersonic journey to cross $7. Leading to multiple bullish candles and a 46% jump this week, the bull run teases a trend continuation next week. 

Currently, the HNT price trades at $7.55 with an intraday growth of 2.07% and sustains above the 23.06% trend-based Fibonacci level. The buyers are now ready to challenge the 38.20% fib level at $7.95 and tease a $8 break. 

Technical indicators: 

MACD Indicator: A bullish crossover event has occurred, with the MACD and signal lines regaining bullish alignment. Additionally, the rising intensity of the bullish histograms supports the possibility of a breakout above $8. Therefore, the bullish crossover signals a continuation of the trend for Helium prices.

Will HNT Price Top $10 This Month?

A look at the daily time frame chart shows the ongoing recovery in HNT price ignited by a morning star, as predicted in our last analysis. Moreover, the ongoing supersonic reversal rally supports the likelihood of a bullish run and breaking through the overhead Fibonacci levels, particularly the $8 mark.

If Helium prices maintain momentum, buyers can drive the rally to the next significant resistance level of $10.43. If the rally fails, however, it could retest the $6.62 support level.