Helium Price Forms A Bullish Pattern! HNT Price To Hit $7 Soon?

The cryptocurrency industry continues to display an increase in the buying and selling pressure within the crypto market with mid-cap and low-cap altcoins witnessing significant gains in their respective portfolio. However, top tokens record a bearish trend, indicating a neutral sentiment.

The HNT price has displayed a strong bullish reversal by adding 45.64% within the past seven days after recording a correction of 6.94% over the past 30 days. Furthermore, the YTD of the Helium token stands at -6.93%, indicating a long-term bearish influence in the crypto space.

Helium Price Displays A Bullish Price Pattern:

The HNT price has recently recorded a bullish price action after trading in a closed range between $3.915 and $4.540 for over two weeks. Moreover, the Helium token has successfully formed a rising channel pattern and continues to trade within it.

Currently, the Helium token displays a mixed sentiment by hovering close to its support/resistance level of $5.855. However, the EMA 50-day shows a strong bullish curve in the chart, highlighting a positive influence and a high possibility of a Golden Cross in the coming time.

The MACD displays a constant decline in the green histogram in its chart, indicating a decrease in the price action for the HNT price. Moreover, the averages show a bearish price movement, suggesting a mixed sentiment in the crypto industry.

Will The HNT Price Go Up?

If the market holds the price above the support level of $5.855, the bulls will regain momentum and the Helium price will test its resistance level of $6.525. Furthermore, if the bulls hold the price at that level, it will set the stage for the HNT token to test its upper high of $7.145 this month.

Conversely, if the bears gain power over the bulls, the price will lose momentum and test its support level of $5.155. Moreover, if the bears continue to dominate the market, it will plunge and fall to test its lower support level of $4.540 in the coming time.

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