Helium (HNT) Price Prediction: HNT Poised to Rally by 30% to Hit the $8.40-Level in the Coming Days

Helium [HNT], at press time, appeared all set for a massive upside rally after retesting its crucial support and breaking out from a descending trendline.

Helium (CRYPTO: HNT) appeared poised for a massive upside rally after retesting its crucial support and breaking out from a descending trendline, shifting sentiment from a downtrend to an uptrend.

Helium's Technical Analysis

According to AMBCrypto's analysis, HNT appeared bullish after breaking out from the descending trendline, which acted as resistance since October 1, 2024.

The altcoin also broke out from the consolidation zone at $5.8 support.

With this positive outlook and recent price action, there's a possibility that HNT could soar by 30% to hit the $8.40-level in the coming days.

At the time of writing, Helium's daily chart showed no major hurdles, which could help the asset rally smoothly in the coming days.

Also, HNT's Relative Strength Index (RSI) and the 200-day Exponential Moving Average (EMA) hinted at a bullish outlook and suggested strong upside rallies.

Bullish On-Chain Metrics

HNT's positive outlook was supported by its on-chain metrics. According to Coinglass, HNT's Long/Short Ratio was 1.008 at press time, indicating strong bullish sentiment among the altcoin's traders.

In the last 24 hours, the coin's Open Interest (OI) increased by 7%, and it continued to rise on the charts in the previous week.

Rising OI is usually interpreted as a sign of growing demand and interest from investors, which could be attributed to the crypto's recent breakout and bullish market sentiment.

Traders and investors often build long positions in the presence of rising OI and a Long/Short Ratio above 1.

According to Coinglass, major liquidation levels were at $6.06 on the lower side and $6.5 on the upper side, with traders over-leveraged at these levels.

Combining these on-chain metrics with technical analysis, it appeared that bulls dominated the asset and could support HNT to reach the $8.40 level in the coming days.

Read Helium's (HNT) Price Prediction 2024-25

At press time, HNT traded at $6.37 with a price surge of 8.2% in 24 hours. In the same time frame, its trading volume increased by 20%, showing more participation from traders and investors compared to the last few days.

The above is the detailed content of Helium (HNT) Price Prediction: HNT Poised to Rally by 30% to Hit the $8.40-Level in the Coming Days. For more information, please follow other related articles on the PHP Chinese website!