Helium (HNT) Poised for Potential 25% Surge Amid Growing Investor Interest
Helium (HNT) is showing signs of potential growth, with analysts predicting a possible surge of 25% to reach the $8.15 mark if it can close a daily candle above the $6.50 level. Since November 20, there has been a notable accumulation of HNT by whales and investors, indicating a growing confidence in the token’s performance. Despite the overall market experiencing volatility, HNT has remained relatively stable, positioning itself for a potential upside rally as traders and investors take a keen interest in its price movements.
Recent data from Coinglass highlights a significant increase in HNT’s Open Interest, which surged by 8.5% in the last 24 hours and 4.7% in the past four hours. This uptick suggests that traders are expanding their positions, reflecting a shift in sentiment towards HNT. Additionally, the Spot Inflow/Outflow data indicates that whales have been consistently accumulating HNT tokens, contributing to a negative net flow. These metrics, combined with a bullish price action pattern on HNT’s chart, suggest that the asset is poised for a breakout.
Technical analysis from AMBCrypto indicates that HNT is on the verge of breaking out of a falling channel, currently consolidating near the upper boundary of this pattern. With the altcoin trading above the 200 Exponential Moving Average (EMA) and a Relative Strength Index (RSI) of 52, the market sentiment appears bullish. As HNT trades around $6.25, a minor price increase of over 1.25% in the last 24 hours, coupled with a 10% rise in trading volume, suggests heightened trader participation and optimism for an imminent upside rally.