Helium (HNT) Posts 3.39% Price Increase

The Helium token stands as the second-best performing asset this morning. This is because the price of the token has increased by a modest 3.39%. Despite this, price action remains below important technical marks, which colors the overall outlook of the market.

Helium Statistics

Current Price: $1.920

Market Capitalization: $362.91M

Circulating Supply: 186.32M

Total Supply: 186.32M

CoinMarketCap Rank: 118

Key Levels

Resistance: $2.00, $2.50, $3.00

Support: $1.900, $1.500, $1.250

HNT Needs More Catalysts

While the Helium daily chart shows modest price increases for two sessions straight, recent price candles remain below the 9-day Exponential Moving Average (EMA) line.

From the appearance of the last price candle, it is evident that the market has contracted downward after testing the ceiling formed by the 9-day EMA. The applied Stochastic Relative Strength Index (SRSI) indicator lines can still be seen rising upward from the oversold region despite the contraction.

Helium Downward Contraction Off the $2.00 Mark

Moving to the HNT 4-hour chart reveals how the market has played out today. It can be seen that in the past two sessions, price action contracted downward off the $2.00 mark.

Also, the last two price candles on the chart have maintained this trend, even if on a modest scale, given the appearance of the corresponding candles. As it stands, the support offered by the 9-day EMA curve remains unbroken.

The SRSI indicator lines have risen into the overbought region of the indicator. Meanwhile, the terminal part of the indicator can be seen rising, taking on a slight sideways and downward trajectory. Therefore, the market may be preparing for a continued upward retracement toward the $2.100 mark.

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