Helium’s Price Breaks the $5.00 Resistance

The Helium market has seen a price increase of roughly 8% today, just enough to push the market past the $5.00 mark. Additionally, the market seems favorably positioned for more upside moves. Let’s take a closer look.

HNT Statistics:
Current Helium Price: $5.109
Helium Market Cap: $824 million
Helium Circulating Supply: 161 million
HNT Total Supply: 161 million
Helium CoinMarketCap Rank: 69

Key Price Levels:
Resistance: $5.500, $6.00, and $6.500
Support: $5.000, $4.500, and $4.000

Helium Price Increases by 7.97%; More May Be Seen

The ongoing session has been moderately profitable in the HNT/USDT daily market. The corresponding price candle for the current session stands above a strong baseline formed by the convergence of the 200-day and 20-day Exponential Moving Average (EMA) lines.

Additionally, the Stochastic Relative Strength Index (SRSI) lines are rising out of the oversold region. Notably, the current price candle has almost no upper shadow, implying that the session hasn’t faced significant downward pressure. As a result, price action in this market may still move higher.

The HNT Market Has Bullish Prospects

Helium’s price action in the 4-hour market has moved off the converging EMA lines. More interestingly, the 20-, 50-, and 100-day EMA lines converge for a bullish crossover.

Meanwhile, the SRSI indicator lines have delivered a bullish crossover in the oversold region, and the resulting line of the indicator suggests that upside volatility is encouraging. At this point, it appears that the market is targeting the next psychological resistance at the $5.500 mark. Therefore, using crypto signals aimed at this target may be worth considering.

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