Helium (HNT) Price Prediction: HNT Rally Shows No Signs of Weakening as Open Interest Hits Multi-Month Highs

HNT continued to rally at press time, with seven-day gains of over 50%. Volumes in the spot and futures markets showed rising investor interest as prices push to multi-month highs.

Helium [HNT] price continued to rally on 24th August, with seven-day gains now exceeding 50%. Throughout press time, HNT’s presence in the spot and futures markets signaled rising investor interest as prices pushed to multi-month highs.

According to data from StampEDE, HNT was trading at $7.28, following a nearly 10% rise in 24 hours. Open Interest also soared to its highest level in months.

The four-hour hourly chart showed that a more short-term bullish crossover is forming as the 50-day moving average (SMA) rose above the 100-day SMA. This trend suggests the possibility of a sustained uptrend.

Helium [HNT] Four Hour Chart From Stampede

Meanwhile, HNT trading volume increased by 30%, according to CoinMarketCap data. This trading volume appears to be driven by buyers, as Chaikin Money Flow (CMF) shows a positive value of 0.26.

This indicator shows that buying pressure exceeds selling pressure.

Currently, the 1.0 Fibonacci level ($7.65) is acting as the immediate resistance. A combination of buying pressure and solid fundamentals could propel HNT to its long-term target of the 1.61 Fib level ($10.23).

One of those fundamentals is Helium's participation in the fast-growing decentralized physical infrastructure (DePIN). Network usage also increased significantly last year.

HNT Open Interest reaches its highest level in months

HNT’s Open Interest (OI) surged 19% to $6.85 million, the highest since May 2024, according to Coinglass data.

This indicator shows that market participation has expanded as futures traders have increased their positions.

Helium [HNT] From Open Interest Stampede

A rising OI and a negative turn in funding rate generally indicates bullishness. However, a closer look at the futures market reveals a bearish picture.

OI has increased, but the funding rate has gone negative, suggesting traders are opening short positions.

After the recent rally, short traders expect HNT to peak and the uptrend to weaken.

However, if spot market buying activity continues, it creates the potential for a short squeeze where short traders are forced to liquidate their positions, pushing HNT further up.

HNT's long/short ratio is 0.97, indicating that long positions are still large. This indicator shows that a significant number of HNT futures traders are expecting further price increases.

Helium [HNT] Long/Short Ratio From Stampede

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