Is HNT Price Crossing $10 Milestone This May?

The post Is HNT Price Crossing $10 Milestone This May? appeared first on Coinpedia Fintech News

Failing to sustain any bullish jumps in the last few weeks, the Helium price trend offers a high possibility breakout setup. As the HNT price trend pivots from the $4.25 support level, the buyers are stressing the resistance trendline, teasing a breakout run.

While the rising bearish influence is visible in the 1D HNT price chart, the market-wide turnaround teases a breakout rally.  Will this reversal pump Helium into a hyperspeed breakout run to $10? Find out more in our HNT Price Prediction.

With a market cap of $789M, Helium barely reaches the top 100 cryptocurrencies. Further, with a bearish influence over the last few weeks, the HNT price is down by 11.28% in the last 30 days. This undermines the remarkable uptrend in late 2023 and makes a falling channel pattern.

Tradingview

Despite the bearish pattern, the 10% jump in the Helium price from the $4.25 support level ignites a breakout possibility. The bull run challenges the overhead trendline and the death cross possibility. 

Currently, the HNT price trades at $4.90 with an intraday gain of 3.90% and is ready to surpass the $5 psychological mark.  

RSI indicator: The daily RSI line slightly declines but resonates close to the halfway line.

EMAs: The crucial 50D and 200D are on the verge of a death cross. 

As the reversal rally gains momentum, the HNT price is ready to pivot and reclaim the bullish trend. On the verge of falling channel breakout, the recovering market bolsters the possibility of a new bull run. 

As per the price action, the breakout rally could hit the $10 peak with the unleashed trapped momentum. However, a bearish resistance is possible at the $6 and $8 supply zones. Conversely, a bearish continuation will put the $4.25 support at risk.