Despite a 9.80% surge and bullish pattern formation, Helium (HNT) is facing resistance at $7.8950, leading to decreased trading volume and a recent drawdown. While the ascending triangle pattern suggests potential upside breakout, AMBCrypto analysis indicates that the descending support line is crucial for HNT's continued upward movement.
Despite the presence of a pattern that typically precedes a rally, HNT ’s low trading volume reflects a notable lack of enthusiasm.has seen a 9.80% increase, setting market expectations for continued upward movement. However, the asset has encountered significant resistance within its bullish pattern , leading to a recent drawdown.
This resistance forms the upper boundary of the ascending triangle pattern within which HNT has been trading. A decisive breakout from this pattern for HNT could be facilitated by the descending line serving as support, potentially driving the HNT back to the $10 zone or higher. Conversely, failure to maintain this momentum could see HNT retreat to the pattern’s lower support.AMBCrypto provides additional analysis indicating that the descending pattern is expected to hold firm for the time being.
Helium HNT Cryptocurrency Bullish Pattern Resistance Ascending Triangle Descending Support
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