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.
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.
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.
Also Check Out : Will ORDI Price Bounce To $80 As Demand Resurfaces At $43?
The idea of the U.S. government holding XRP as part of a national reserve might…
Coinbase Derivatives, LLC has launched CFTC-regulated futures contracts for XRP, adding to the growing list…
In a huge development for the cryptocurrency industry, Paul Atkins has officially been sworn in…
The wider crypto market may be attempting to follow the Gold price but the short-term…
The Circle Payments Network will leverage regulated stablecoins led by USDC and EURC. The CPN…
The Avalanche ecosystem has grown significantly in the past year backed by institutional investors seeking…
