Helium (HNT) Price Prediction: Roadmap To $10

Helium (HNT) price saw a bounceback of over 20%, approaching a critical resistance level of $7 this week. Fueled by the improved market sentiment, HNT

Helium (CRYPTO: HNT) price saw a bounceback of over 20% this week, approaching a critical resistance level.

Fueled by the improved market sentiment, HNT price appeared set for a reversal in the coming sessions. Its upward price movements assessed on a daily chart hinted at a possibility of a 20% surge in the altcoin’s value soon.

A bullish flag pattern forms when a strong upward price movement is followed by a consolidation period, hinting at a minor retracement. This pattern suggested that buyers are pausing temporarily before continuing the uptrend.

Helium (HNT) Price Prediction: Roadmap To $10

According to Helium price prediction, the altcoin price remained above the key EMAs, edging closer to a breakout. In a recent tweet on X, Nology said that HNT crypto had completed the 2nd correction wave and was ready for an upward movement to complete the 3rd rising wave.

#HNT [Update] It's been a long time since I've posted on $HNT. Still a very strong coin here imo. After a completed 1 in March, and lesser degree back in September, we're on our way to push onto wave 3. It'll be great for one of the first in the #DePin space. https://t.co/6du7E4b89P pic.twitter.com/to6padq6En

Helium (HNT) price was trading at $6.97 at press time, showcasing an intraday drop of over 0.78%. Over the past seven days, the altcoin price surged over 20% and gained bullish momentum.

It boasts a market cap of $1.19 Billion and has a total supply of 170.47 Million. The pair of HNT/USDT was trading at 0.000104 BTC.

The Relative Strength Index (RSI) line stayed close to the midline region, around 52, displaying a slightly bullish cue. The chart showed a successful bullish flag pattern breakout above the $7.20 mark. If this happens, the HNT price could see a 20% surge toward the $9 mark and might reach the $10 mark in the coming sessions.

However, the Chaikin Money Flow (CMF) reading sharply recovered from the lower levels and reached the zero line, indicating that significant liquidity was entering the market.

Daily Active Addresses Suggest Bullish Cues

This week, the daily active addresses data spiked and surged to 16.4k, suggesting that market participants gained interest in Helium.

As per the Fibonacci retracement levels, the Helium (HNT) price recently bounced off from the 200-day EMA mark, completing the 2nd Elliott wave correction cycle from the 1st wave, which began in March of this year. The 3rd rising wave was now in sight, which could push the HNT price toward the $10 mark.

What Does Futures Market Data Say?

The OI-weighted funding rate data showed that traders were positioning for a price increase. At press time, the funding rate was noted to be around 0.0093%.

Typically, the funding rate balances the longs and shorts. A funding rate of 0.0093% over the past two weeks indicated bullish sentiment.

To put it simply, a high positive funding rate coincides with boosting confidence in a coin’s price increase. The immediate support zones for HNT crypto were $6.60 and $6.00. At the same time, the upside barriers were $7.20 and $8.

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