2024

Reversal

Helium

The post <a href="https://coinpedia.org/price-analysis/hnt-price-reversal-marks-40-upside-potential-eyes-10/" rel="noopener noreferrer nofollow">HNT Price Reversal Marks 40% Upside Potential, Eyes $10!</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Rising on a bearish day for most altcoins, the HNT price trend finds unprecedented support from buyers at a crucial support level. With an impressive intraday rise and a bullish pattern teasing a bullish reversal, Helium is preparing a bull run to enter 2024 with a bang.&nbsp;
Bouncing from the $6.62 support level coinciding with the 61.80% Fibonacci level, the altcoin is ready to restart the bull run.&nbsp; Moreover, the declining intraday trading volume during the pullback supports the bullish reversal possibility per our Helium price prediction.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="466" src="https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-1024x466.png" alt="" class="wp-image-257302" srcset="https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-1024x466.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-300x137.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-768x349.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-1536x699.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/12/29151853/HNTUSD_2023-12-29_14-01-18.png 1813w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
Source – <a href="https://www.tradingview.com/x/NB9UdZbm/" rel="noopener noreferrer nofollow">Tradingview</a>
Following the bull run above $9, the HNT price fails to reach the psychological barrier at $10, leading to a sharp bearish fall. However, the lack of volume support and the lower price rejections projected the correction as a minor pullback.&nbsp;
Currently, the intraday gain of 9.65%, leading to a morning star pattern forming at the crucial area of interest of $6.62, teases a comeback for Helium. Moreover, with the HNT price trading at $7.275 and the bullish engulfing candle finding volume support, the buyers are lining up to pay an extra premium.&nbsp;
On a side note, the trend-based Fibonacci level indicates the possibility of the HNT price reaching the $10.45 mark. Hence, a potential jump of more than 40% arises in the Helium chart.&nbsp;
Technical indicators:&nbsp;
RSI: The daily RSI slope shows a positive turnaround from the halfway line as the buyers return. With the rounding reversal ready to approach the overbought boundary, the lack of divergence proves a strong trend in the HNT price.
MACD Indicator: The MACD and signal lines are preparing to regain their bullish alignment with a crossover event. Moreover, the lack of intensity in the bearish histograms supports the crossover possibility. The bullish crossover will signal a trend reversal for Helium prices.&nbsp;
<h2 class="wp-block-heading" id="h-will-hnt-price-cross-the-10-mark">Will HNT Price Cross The $10 Mark?</h2>
A look at the daily time frame chart shows the ongoing recovery in HNT price igniting with a morning star pattern. This chart pattern, commonly spotted at the bottom of a pullback or a downtrend, signals a sign of trend reversal.
Thus, a recent reversal from $6.62 bolsters the possibility of a bull run and fracturing the overhead Fibonacci levels, especially the $8 mark. If the Helium prices sustain the momentum, the buyers can drive a rally of 43% to meet the next significant resistance of $10.43.
On a contrary note, a bullish failure can lead to a retest of $6.62.

HNT Price Reversal Marks 40% Upside Potential, Eyes $10!

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