Helium (HNT) Token Price Skyrockets 75% This Week: What's Next?

Helium (HNT) price has registered a sharp bullish reversal from the bottom and surged over 75% this week. The buyers have gained traction and

Helium (HNT) price soared over 75% this week, as buying interest returned gradually in the crypto market. The token price surged to $6.84 with an intraday rise of 14.30% at press time.

The HNT token price crossed the $5 mark and registered a seven-day winning streak. It closed on a positive note, indicating the heightened buying interest.

Helium (HNT) Token Price at Press Time

The Helium token price traded at $6.84 with an intraday surge of 14.30% at press time. It reflected buying momentum on the charts. Its trading volume rose over 41% to $49.39 Million, conveying the rising investor optimism for HNT.

Moreover, the token crossed the LDO, FTM, RUNE, and many more tokens and jumped to the 59th position in terms of the market cap. With a total supply of 97.70 Million, Analysts have projected their bullish guidance and suggested a massive bullish rally ahead.

Helium Seems Poised for a Sharp Up Move: Is $10 Mark on the Cards?

On the one-day chart, the HNT price made a rounding bottom formation and displayed a significant recovery in the past few sessions. Also, a falling wedge breakout was recorded in the second half of July.

This week, a sharp accumulation along with volume participation was seen and a golden crossover on the chart, giving a solid conviction for the upcoming price surge.

The follow-on buying momentum conveyed that buyers were confident and were willing to chase the uptrend ahead.

Beyond the short-term price pullback, the long-term structure was bullish and the token might continue its bullish trend above the $8 mark. A shift in the price action and a fresh demand resurgence were noted after a four-month correction.

The Relative Strength Index (RSI) curve saw a positive divergence and noted a bullish crossover.

A renowned analyst and strategist, JAVON⚡️MARKS (@JavonTM) aweeted that the HNT token price is set for a bullish breakout and a massive upside-

$HNT (Helium) has displayed a bullish breakout of the secondary setup and a massive upside looks to be in-effect!

Prices, with a larger breakout holding, can be in pursuit of the $52.76 target and an additional +651% increase could be on the way! https://t.co/5iKwRTpC0a pic.twitter.com/P6zesU44nS

The CMF indicator had a positive reading of 0.12, revealing strong buying pressure. It also displayed a trend reversal, signaling a continuation of the up move ahead.

Total Liquidations Saw a Sharp Change

At press time, the short liquidations were noted at $17.7k, while the long liquidations were at $1k, indicating a bullish sentiment among the investors.

If the Helium price accumulates more gains, it may reach the resistance mark of $7.80, followed by the $8.30 mark ahead.

On the other hand, if the token price sees any retracement ahead, it may retest the immediate support zone of $6, followed by the $5.20 mark in the short term.

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