Will HNT Price Cross $20 With Triangle Breakout?
Helium (HNT) has a market cap of 1.14B and ranks #60 in the crypto market, with a 13.16% decline over the past week.
Despite the drop, HNT has seen a significant 120% increase in the last 90 days, indicating a strong recovery phase.
The price is currently trading within a symmetrical triangle pattern, suggesting consolidation between $7.782 (78.60% Fibonacci) and $6.365 (61.80% Fibonacci).
A falling wedge breakout in early July from $3 fueled a recovery rally, leading to the current symmetrical triangle formation.
HNT is trading above the 100-day EMA, but bearish momentum within the triangle raises concerns over a breakdown.
Despite bullish alignment in the 50-day, 100-day, and 200-day EMAs, MACD and signal lines show a declining trend with negative histograms.
A bullish breakout from the triangle could target $14 and $21 based on Fibonacci extensions.
On the downside, key support levels are at $6.36, $5.527, and $4.80.
The price is at a pivotal moment, with the support confluence around the 100-day EMA and local trendline holding the short-term trend in balance.
A rounding bottom reversal pattern with a neckline at $1.10 could further fuel a bullish breakout rally.
Despite the drop, HNT has seen a significant 120% increase in the last 90 days, indicating a strong recovery phase.
The price is currently trading within a symmetrical triangle pattern, suggesting consolidation between $7.782 (78.60% Fibonacci) and $6.365 (61.80% Fibonacci).
A falling wedge breakout in early July from $3 fueled a recovery rally, leading to the current symmetrical triangle formation.
HNT is trading above the 100-day EMA, but bearish momentum within the triangle raises concerns over a breakdown.
Despite bullish alignment in the 50-day, 100-day, and 200-day EMAs, MACD and signal lines show a declining trend with negative histograms.
A bullish breakout from the triangle could target $14 and $21 based on Fibonacci extensions.
On the downside, key support levels are at $6.36, $5.527, and $4.80.
The price is at a pivotal moment, with the support confluence around the 100-day EMA and local trendline holding the short-term trend in balance.
A rounding bottom reversal pattern with a neckline at $1.10 could further fuel a bullish breakout rally.
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