Helium Coin Price Bloats 30% – Can HNT Expand Past $5?

Christian Encila

Last Updated: September 9, 2022 5:16 am

2 mins read

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Helium (HNT) has been flushed in green, standing out from all the reds in the crypto space.

HNT price bounces back from key support at $3.4
Helium intraday trading volume registers 378% plunge
HNT price to sprint past the $5 level

Helium price has bounced back from its support key spotted at $3.4, prompting a new rally which can spike past the $5 level.

Based on the HNT technical chart, the token is showing a dip since it lost its grip on the key support found at $8.3 in August. HNT price has slumped by 59.6% as it nosedived to $3.32, its 52-week low so far.

Chart: TradingView.com

Regardless of how negatively the rest of the market is performing such as Bitcoin, which is dipped in red and fell under the $19,000 level, HNT price still reigns with the formation of an engulfing candle validating a bullish stance.

Apparently, the HNT price was able to recuperate from the $3.32 mark and skyrocketed by 30% hinting at a bullish reversal.

Helium Price Seen Rising 19%

According to CoinMarketCap, HNT price is up by 0.77% or $4.90 as of this writing,

The immense increase in terms of trading volume implies that buyers are going on an exciting shopping spree at discounted prices. With consistent buying pressure, Helium price may spike to as much as 19% before it taps on the psychological zone set at $5.

At this point, the HNT price can validate whether buyers are seriously committed despite the resistance and at the same time, this also tests whether the price is flexible and can still soar.

Regardless, a sudden spike in price is regarded to be uncommon, especially amid a tough bearish market.

With that in mind, the Helium price is projected to slide from the $5.9 resistance to retest the support found at $3.26.

RSI for Helium shows an aggressive growth spurt coming from the oversold region which shows the increase in demand at discounted prices. Now, a crossover that will hover above the midline can validate recovery.

HNT EMAs Indicate Downward Trajectory

The 20/50/100/20 EMAs show a rather vicious downside movement. Meanwhile, the vortex indicator shows a noticeable gap in between the VI+ and VI- indicating extreme sluggishness in bearish movement despite the pump in price.

HNT’s market capitalization has plummeted by as much as 50% from $1 billion to $492 million.

A couple of days ago, HNT is seen to have nosedived shedding off as much as 9% of its value as seen overnight. On a 30-day timeframe, HNT price is seen to have slumped by over 57% in over a month or down by 94% from its ATH.

Crypto total market cap at $983 billion on the daily chart | Source: TradingView.com
Featured image from The Coin Republic, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.