The Helium network is a decentralized wireless network that enables devices anywhere in the world to connect to the Internet and geolocate themselves without the need for power-hungry satellite location hardware or expensive cellular plans.
Ichimoku Analysis (4 hour chart)
Tenken-Sen- $6.37
Kijun-Sen- $6.37
HNTUSD performed well after a massive sell-off.
Any daily close above $8.50 confirms further bullishness.
HNTUSD gained more than 30% yesterday after a new deal with Telefonica, a MNC telecom company. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $7.20 and is currently trading around $7.01.
The bullish invalidation can happen if the pair closes below $4.40. On the lower side, the near-term support is $6.35. Any break below targets $5.30/$4.75. Significant downtrend if it breaks $4.
The immediate resistance stands at around $7.20. Any breach above confirms a minor pullback. A jump to $8/$8.50 is possible. A surge past $10 will take it to $15.
It is good to buy on dips around $6 with SL around $5 for TP of $8.50.
