Helium (HNT): Navigating Potential Price Moves and Liquidation Levels
If the specified helium level remains constant, HNT could potentially surpass $4.45, subject to certain conditions...
Helium's price is on the rise, up 1.68% in the last 24 hours. Let's break down the short-term prospects and liquidation levels for HNT.
HNT in a Rising Wedge
On the 4-hour chart, HNT is navigating a massive ascending wedge, with the apex at around $4.45. A potential breakout could send HNT soaring toward $5.00 or higher. However, a fall below the rising trendline support at $3.60 could influence the bullish setup negatively, potentially dropping the price to $3.40.
Bullish MACD Indicator
The MACD indicator suggests a bullish crossover with the MACD line crossing the signal line at 0.011 and -0.004 respectively. The histogram indicates an up-trend, but vulnerability remains due to the close proximity of the price to the support trendline at $3.60.
Liquidation Levels and Short-Term Opportunities
An analysis of the Liquidation Heatmap shows a massive short liquidity at $3.89, with more short positions emerging close to this level. This indicates short-term price opportunities in either direction. If HNT pushes higher, the $4.36 cluster may attract price action, leading to more short liquidations and increased volatility. Conversely, a decrease in price could be pulled down by the emerging liquidity under $3.89, causing more liquidation of the shorted position.
Factors Affecting HNT's Price
Helium's core utility continues to rise, with total mobile hotspots reaching 94,570 and daily users increasing to 681,066. This suggests an increase in network adoption and usage, which may positively impact HNT's demand. However, a recent decrease in daily data transfer rate could impact market sentiment and price. Remember, broader market trends and individual project developments may also shape HNT's trajectory.
Looking Ahead
It's worth noting that projections for HNT's price are subject to change based on various factors, including market conditions and project developments. According to some forecasts, HNT could increase by 37.89% to reach $5.42 if it hits its upper price target. For a more accurate prediction, keep an eye on liquidation levels, network activity, and broader market trends.
Token investors closely watch the market sentiment of Dogecoin, crypto, and finance due to its potential impact on Helium (HNT). The bullish MACD indicator aligns with the rising wedge pattern on HNT's 4-hour chart, presenting a short-term opportunity. However, the close proximity of the price to the support trendline at $3.60 and the massive short liquidity at $3.89, as shown in the Liquidation Heatmap, creates vulnerability for HNT. Technology advancements and network activity, such as the rise in total mobile hotspots and daily users, could positively impact HNT's demand. Yet, a decrease in daily data transfer rate could influence market sentiment negatively. Therefore, it's crucial to monitor liquidation levels, network activity, and broader market trends for a more accurate prediction of HNT's trajectory.
