Is the HNT Price on the Verge of Breaking the $9 Mark?
The price of Helium (HNT) appears to be gearing up for another test of the $9 mark. But what do the forecasts say? Are they in favour of the bulls? In the last four days, HNT has increased by 47%, making the market situation on the one-day price chart bullish. But will the $9 resistance zone, which dampened the HNT bulls in December, become a hurdle again?
Technical Indicators Show Bullish Trend
The technical indicators point to a strong bullish trend for the token. Combined with recent gains, it seems likely that the $9 area could be breached on this attempt. An HNT range from $5 to $8.9 has been identified over the past six weeks, with all three levels being significant. Therefore, a rejection in the $9 to $9.6 range could likely be possible.
The Role of OBV and Fibonacci Retracements
On the other hand, the upward trend of the On-Balance Volume (OBV) in January showed that buyers were relentless. Combined with the bullish market breakout on January 27, a breakout above $9.6 seems more likely than a rejection. However, this could depend on a bullish Bitcoin (BTC). Another factor supporting the breakout idea are the Fibonacci retracement levels. They show that the sharp decline in early January did not fall below the $5.18 level, which corresponds to the 78.6% retracement. Therefore, a rise to $10.96 or higher could be supported by the Fib levels.
Despite the volatility of the past month, the OBV and the Relative Strength Index (RSI) show a clear bullish trend in the market. However, the open interest chart showed that sentiment for most of January was bearish. Since January 25, however, open interest has been rising in parallel with HNT prices. This is a sign of strong bullish sentiment and willing buyers in the futures market. Therefore, HNT could break the $9 mark.
Maximum bet per round: 0.000066 BTC • 0.01 BCH • 0.0011 ETH • 0.02 LTC • 40 DOGE • 2 USDT • 2.8 XRP • 25 TRX • 6.6 ADA • 0.008 BNB • 2 BUSD • 2 USDC • 3 CAD
Free spins are credited on “Max Miner” by Gamebeat.
How did we rate this casino
Bets.io is our number 1 among crypto casinos because they have kept everything great about Dama Casinos, such as their excellent game selection and well-known reliability, while eliminating the frustrating KYC processes and traditional payment methods that can hinder the full crypto casino experience.
Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.
10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino
In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.
As a bit of a nerd and travel fan, I get to combine many things at KC. As a member of the team, I can ensure that our readers play in reputable casinos and at the same time contribute to the technical development. I do that from Germany or Spain, my adopted country.
Last update: 12. March 2024
Advertising transparency
We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.
Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.
We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.
Why trust us?
We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.
🍪
We use cookies. By using this site, you accept them.
CoinKings.io - 100% unlimitedUncapped bonus for new customersShow Bonus