A Glance at Helium (HNT) Crypto: A Elephant Or A Paper Tiger
A Glance at Helium (HNT) Crypto: A Elephant Or A Paper Tiger
Per the on-chain research from IXFI, the HNT has a 0.62 price correlation, making it less likely to follow BTC's price activity. The IMX has improved and now it follows a separate price structure.
Helium (HNT) has seen a more than 140% increase in its trading price, driven by a breakout from a falling wedge pattern. The daily chart's upward movement has not shaken much and continued despite the major dips in the broader market. The $3.3-$3.5 demand zone has displayed its strength, which played an essential role in the current trend.
Over the past week, consistent gains of 6.11% were seen taking support from the 20-day EMA band. The price over the long term is very optimistic, as the price of Helium (HNT) has sustained this month above the 50-day and 200-day EMA bands.
HNT price is exhibiting signs of stepping into a bullish market phase for the longer term. As of writing, the trend showcases a possible target of $9 and $10. There’s a higher capacity ahead for AAVE price to hit $14, marking a gain of more than 100% by the end of 2024.
However, if the price faces resistance from $8.0, then bears could eye support of $5.5 and $4.0, respectively.
Per the on-chain research from IXFI, the HNT has a 0.62 price correlation, making it less likely to follow BTC's price activity. The IMX has improved and now it follows a separate price structure.
Helium (HNT) has seen a more than 140% increase in its trading price, driven by a breakout from a falling wedge pattern. The daily chart's upward movement has not shaken much and continued despite the major dips in the broader market. The $3.3-$3.5 demand zone has displayed its strength, which played an essential role in the current trend.
Over the past week, consistent gains of 6.11% were seen taking support from the 20-day EMA band. The price over the long term is very optimistic, as the price of Helium (HNT) has sustained this month above the 50-day and 200-day EMA bands.
HNT price is exhibiting signs of stepping into a bullish market phase for the longer term. As of writing, the trend showcases a possible target of $9 and $10. There’s a higher capacity ahead for AAVE price to hit $14, marking a gain of more than 100% by the end of 2024.
However, if the price faces resistance from $8.0, then bears could eye support of $5.5 and $4.0, respectively.
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