Helium (HNT) Eyes Breakout Amid Rising Demand
Key Takeaways
- The Helium token (HNT) is moving within an ascending wedge pattern, with a potential breakout at USD 4.45.
- A breakout above USD 4.38 could lead to a short-term increase to USD 5.00.
- A drop below USD 3.60 would jeopardize the bullish scenario.
- Liquidity zones and leveraged positions could trigger strong price movements.
- Helium’s network activity continues to grow – more hotspots and users are strengthening long-term demand.
Current Price Development of HNT
The price of Helium (HNT) rose by 1.68% over the last 24 hours and was recently trading around USD 3.97. On the 4-hour chart, an ascending wedge pattern is forming – a technical formation that often signals an upcoming directional move. The apex of this pattern lies around USD 4.45. If HNT breaks through this level, a rise to USD 5.00 is conceivable.
Key Support and Resistance Zones
The current price structure highlights two key levels:
- Resistance: USD 4.38 to 4.45 – a breakout above this zone could unlock further upside potential.
- Support: USD 3.60 – a break below this level could lead to a decline toward USD 3.40.
The price is currently close to the lower trendline, making it vulnerable to short-term pullbacks if selling pressure increases.
Technical Indicators Point to Upside Potential
The MACD (Moving Average Convergence Divergence) is showing a bullish signal. The MACD line is above the signal line (0.011 vs. -0.004), indicating a possible continuation of the upward trend. The histogram is also in positive territory at 0.015. However, the proximity to the support at USD 3.60 remains a risk factor.
Liquidity Zones as Short-Term Price Drivers
A look at the liquidation heatmap shows that many short positions were liquidated at USD 3.89. New short positions are forming in this area. If the price continues to rise, further liquidations could occur at USD 4.36. This would increase volatility and could drive the price upward in the short term.
Conversely, if the price falls below USD 3.89, liquidations on the downside could follow. These opposing liquidity zones create short-term opportunities – in both directions.
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Network Usage Increasing – Fundamentals in Focus
Helium network usage continues to grow:
- The number of mobile hotspots rose to 94,570 – an increase of 278 in seven days.
- Daily users increased by 75,571 to 681,066.
- Daily data volume slightly decreased to 21.47 terabytes (down 2 TB).
More users and hotspots suggest stronger network usage. This can positively impact demand for HNT in the long term. The slight decline in data volume should be monitored in the short term but is unlikely to have a lasting negative effect given the rising number of users.
Our Assessment
Helium currently presents an interesting technical and fundamental setup. In the short term, the direction will be determined around the USD 4.38 and 3.60 levels. An upward breakout could be amplified by liquidations. At the same time, the risk of a pullback remains.
In the long term, growing network usage supports a solid outlook for the project. Those invested in or considering investing in HNT should keep an eye on the key price zones and network data. A disciplined risk management approach remains essential.
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