Remarkable Recovery in HNT Eyes $10 Breakout!Impressive Recovery Trend: Helium (HNT), ranking 57th in market cap, witnesses a substantial recovery, rising 112% from a low of $4 to a current price of $8.43.
Breakout from Key Resistance: The HNT price has successfully breached the critical $3.8 resistance, indicating the end of a long accumulation phase and signaling strong buying interest.
Backed by High Volume and Momentum: The post-breakout rally of Helium is supported by increased trading volume and momentum, suggesting a bullish sentiment in HNT price predictions.
Influence of Recent Developments: Helium's recovery is boosted by its new $20/month nationwide phone plan, offering an unrestricted and cost-effective mobile experience, contributing to the coin's momentum.
Piercing through Crucial Barriers: HNT has successfully crossed significant resistance levels at $3.8, $5.7, and $8.2, laying a foundation for sustainable growth.
4-Hour Chart Analysis: The HNT price shows exponential growth with consecutive bullish candles, suggesting a potential reach to the $10 mark based on recent pullbacks and Fibonacci levels.
Technical Indicator - RSI: The Relative Strength Index (RSI) above 80% indicates aggressive buying among traders, reinforcing the bullish trend.
Potential to Surpass $10 Milestone: The weekly chart reveals a rounding bottom pattern in HNT's recovery, a typical indicator of market bottom and trend reversal. The recent breach of $8.2 resistance could lead to a 27.5% rally, aiming for the next major resistance at $10.6.
Possible Short-term Pullback: Despite the bullish trend, the presence of long-tail candles near the $8.2 support zone suggests potential profit-booking by short-term traders, possibly triggering a minor pullback.
