Helium is a decentralized distributed network of Hotspots for Internet of Things (IoT) devices using the LoRaWAN system. It is one of the leading DePIN protocols.
HNTUSD recovered after a minor sell-off. HNT trading volume surged by 160%, reaching $31 million.
Any daily close above $8 confirms further bullishness.
HNTUSD gained more than 10% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and the long-term moving average. It hit a high of $7.50 and is currently trading around $7.454.
The bullish invalidation can happen if the pair closes below $3.50. On the lower side, the near-term support is $6.70. Any break below targets $6/$5/$4.50/$4/$3.60/$3.
The immediate resistance stands at around $8. Any breach above confirms a minor pullback. A jump to $8.49/$9.13 is possible.
Indicator (4-Hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Bullish
It is good to buy on dips around $7.10-15 with SL around $6 for TP of $10
