Helium (HNT) price analysis reveals a mixed picture with a bullish divergence signaling potential upside, but a bearish market structure suggesting further downside risks. The token's recent surge from the $3 support level lacks strong buying volume and faces resistance at key levels. Traders need to carefully monitor the price action and consider the range-bound scenario in the near term.
Helium ( HNT ) has experienced a significant price decline since December, plummeting over 68% from its resistance level of $9.54 to test the psychological $3 support last week. This sharp drop, occurring in just over two months, raised concerns about the token's near-term trajectory. Despite the bearish sentiment, a bullish divergence emerged in the first week of February, characterized by lower price lows but higher lows on the Relative Strength Index (RSI).
This divergence, coupled with a bounce from the $3 support level, resulted in a 28.5% gain in less than a week.However, this rebound lacked substantial buying volume, as indicated by the A/D indicator, which remained on a downtrend since mid-December. Although the indicator witnessed a slight bounce over the past ten days, the lack of strong buying pressure suggests that the upward momentum might be temporary. The 1-week liquidation heatmap highlighted a large liquidity cluster around $3.6, which was tested on February 10th. Prices swiftly surged to $4.19, likely fueled by a wave of short liquidations. Since then, volatility has subsided, and HNT has consolidated below the $4 level.The market structure of HNT on the daily chart remains bearish, with the recent lower high at $4.24 serving as a crucial resistance level. To shift the structure to bullish, HNT needs to decisively break above this level. In the near term, the $3.6 zone is expected to act as a support, potentially halting the bearish advance. The magnetic zone at $3.3 could attract token prices in the coming days, leading to a potential range formation between $3.3 and $4.2-$4.5. Traders should be prepared for this sideways movement and exercise caution before entering any positions
HELIUM HNT PRICE ANALYSIS BULLISH DIVERGENCE BEARISH STRUCTURE CRYPTOCURRENCY MARKET STRUCTURE
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