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The post <a href="https://coinpedia.org/price-analysis/hnt-price-prediction-breakout-rally-in-helium-eyes-8/" rel="noopener noreferrer nofollow">HNT Price Prediction: Breakout Rally in Helium Eyes $8</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Despite a broader market weakness observed in top altcoins, colder than anticipated after the release of Ethereum ETF, the altcoins are in a jiffy. Amid the rising volatility, Helium’s HNT token price teases a massive surge with a breakout run.&nbsp;
With the altcoin concluding the correction phase and a new bullish pattern, the sharp recovery phase challenges a critical supply zone. Will the bullish trend in the HNT price hit $8 in July?
<h2 class="wp-block-heading" id="h-trendline-break-for-helium-surpasses-5">Trendline Break For Helium Surpasses $5</h2>
With a bullish reversal from the $3 demand zone, the HNT price surge accounts for a 75% jump within 12 days. The bull run in Helium accounts for a streak of green candles and surpasses the resistance trendline in the daily chart.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfgrcsSxSQyc1E2jFLGIqpKoniBeLLDlvTeFnpnAevQEQ6zMk9-5ob5AGNJew1bcZNtrf7oJcNlVEYGy35uX3H3RfKqJ5ysYdp5YELt4Tk5w1Q9dyBbaxJTFjHNp838c2W-SqzQcxHiDd6_JmebF2Nf0vc?key=3bvAKuuI3dz8b2BS0qxp4g" alt="">
</figure>
<a href="https://www.tradingview.com/x/3XYLqZXt/" rel="noopener noreferrer nofollow">TradingView</a>
The bounce back from the demand zone surpasses the critical 50D and 200D EMA to reclaim the $5 mark. Currently, the HNT price trades at $5.309 with an intraday gain of 0.97%, teasing an uptrend continuation.&nbsp;
 The recovery rally challenges the next supply zone at the $5.50 level and results in a higher price rejection. The long-wick formation reveals massive supply pressure above the $5.50 zone and warns of a bearish reversal.&nbsp;
Technical Indicators:
MACD: The ongoing recovery rally in the HNT price leads to a positive crossover in the MACD and signal lines. Further, the bullish histograms resurfacing in the daily chart signal a surge in demand.&nbsp;
EMA: The uptick in the 50D EMA heading towards the 200D EMA teases a potential golden crossover event, signalling a trend reversal.&nbsp;
<h2 class="wp-block-heading" id="h-where-is-hnt-price-headed">Where Is HNT Price Headed?</h2>
With the bullish breakout of the trendline and the HNT price reclaiming the $5 mark, the underlying demand is increasing. Considering that the broader market will recover, the Helium price bull run will surpass the supply at $5.
Helium HODLers can anticipate the bullish breakout rally to reach the next high supply point at the $8 mark.&nbsp;

HNT Price Prediction: Breakout Rally in Helium Eyes $8

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Інші статті, опубліковані 24 лип. 2024 р.

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