Is Helium (HNT) Price on the Verge of Exploding? This Key Resistance Could Spark the Breakout!
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Helium is testing a major price level, raising speculation about its next move. Prominent analyst Austin Barack revealed on X (formerly Twitter) that the $9-$10 range represents a key resistance for HNT’s price.
A breakout above this level could open new price potential, supported by strong network growth and usage data. The chart also signals bullish momentum, with Helium positioned as a leader in Decentralized Physical Infrastructure Networks (DePIN).
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Helium Technical Analysis
The HNT price chart reflects a clear upward trajectory after a mid-2024 recovery, with consistently higher lows and highs suggesting bullish sentiment. The $9-$10 range now acts as a major resistance level where the price is consolidating. Historical patterns show that previous attempts to break this zone resulted in sell-offs, making this area pivotal for traders.
Support zones are also evident around $5-$6, where the price consolidated before its recent rally, and around $7, where upward momentum briefly paused. Moving averages further validate the current trend, with HNT recently crossing above the 200-day simple moving average (SMA). This technical move suggests growing momentum that could support a breakout.
Furthermore, volume analysis shows a spike in trading activity as HNT’s price approaches the resistance zone. Increased volume around $9-$10 suggests heightened interest from both retail and institutional investors. If buying pressure continues, it could pave the way for a decisive breakout.
The Relative Strength Index (RSI) sits near 65, indicating strong bullish momentum. However, this reading is close to the overbought zone, which may signal a potential pullback if momentum weakens. Traders remain watchful as HNT’s price hovers near this critical level.
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Helium’s Fundamental Growth: A Strong Backdrop
Austin Barack’s tweet highlights Helium’s fundamental achievements, which include serving over 286,000 daily subscribers for major wireless carriers.HNT’s current market value is about a third of what it was at its peak. Meanwhile, the network has gotten way bigger since 2021 – about 10 times more people are using it now. This growth has made the network much stronger in the market.
Helium’s focus on DePIN, a rapidly growing sector, further underlines its expanding utility. This narrative aligns with increased investor interest in projects that combine tangible infrastructure with blockchain technology.
Potential Scenarios for HNT Price Movement
Should Helium break the $10 resistance, analysts foresee a swift move toward the $11-$12 range, given the lack of overhead resistance. However, failure to breach this level could result in a retest of the $7-$8 support range. The next few days will be crucial as traders monitor volume, momentum, and overall market sentiment for directional confirmation.
With strong fundamentals and growing investor interest, Helium’s price performance remains one to watch as it tests key technical levels.
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