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As of today, the Helium token has seen a price increase of 3.69%. As a result, the token stands as the second most profitable coin today. The current bias of technical indicators supports the possibility of prices moving further upward in the coming sessions.
Upside Forces in the Helium Market Are Utilizing Price Volatility
The HNT price seems to have gained considerable volatility since the token’s price action broke out of the consolidation move at $3.180. Consequently, the volatility has assisted the market in quickly rising through several technical resistance levels.
Today’s profit can be seen as having come from a rebound off a higher support level. The ongoing session not only occurs above the middle limit of the Bollinger Bands (BB) indicator but also above a new technical price level at $7.00. The BB indicator can be seen contracting, while the Stochastic Relative Strength Index (Stochastic RSI) indicator is rising upwards from the oversold region.
HNT Price Action Stays Mostly Bullish
The Helium 4-hour market further reflects the activity in the token’s market. Although the ongoing session has printed a minimal downward retracement, the token still trades outside the uppermost limit of the indicator.
Likewise, even though the Stochastic RSI lines have risen deep into the overbought region, the indicator line remains projected upwards. This suggests that upside forces may still have significant strength, which could encourage traders to continue using crypto signals aiming at the $7.500 price level.
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