Helium is a decentralized distributed network of Hotspots for Internet of Things (IoT) devices using the LoRaWAN system. It is one of leading DePIN protocols.
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Any weekly close above $8 confirms further bullishness.
HNTUSD breaks significant resistance of $8 after a long consolidation. The pair holds well above the short-term (34 and 55 EMA) and the long-term moving average in 4-hour chart. It hit a high of $8.36 and is currently trading around $8.04.
The bullish invalidation can happen if the pair closes below $3.50. On the lower side, the near-term support is $7.38. Any break below targets $6.90/$6.50/$6.
The immediate resistance stands at around $8.55. Any breach above confirms a minor pullback. A jump to $9.20/$10 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 $7.80-82 with SL around $6.90 for TP of $10
