Helium Mobile has struck a sponsorship deal with the University of California and its Trojans College Sports Team. Amid its growing network and new marketing attempts, the HNT token price continues to soar.
Will the HNT price reach the $10 psychological mark with a bullish rally? This analysis is here to answer all such queries!
With a bullish breakout of a falling wedge pattern in mid-July, the H&T price has been on a bullish rally since then. This has resulted in a trend reversal rally, and the altcoin has increased by 150% within the last 80 days.
The bullish recovery trend surpasses all the crucial daily (50, 100, 200) EMAs. Furthermore, it gives rise to an ascending support trend line, keeping the bullish growth in check.
Based on the Fibonacci levels over the correction phase in Q2 2024, the bullish recovery has surpassed the 61.80% Fibonacci level at $7.30. However, the bull run has failed to surpass the 78.60% level at $8.51 in late August, resulting in the recent pullback.
Nevertheless, taking support from the 50-day EMA and the rising trend line, the bulls are back in motion. A post-retest reversal from the 61.80% level forms a morning star pattern with an intraday gain of 2.79%,
The HNT price is currently trading at $7.624, with the MACD and signal lines ready for a bullish crossover. Hence, the technical indicators and the price action support the bull run’s chances in the HNT coin price as the broader market recovers.
Based on the Fibonacci levels, the uptrend in the HNT price will likely target the 100% and 1.618 Fibonacci levels at $10 and $14.49, respectively. On the flip side, Helium’s support levels are at $7.30 and $6.45.
Concerned about how the HNT price will conclude in the year 2024? Our Helium (HNT) Price Prediction reveals this and more!
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