Will Market Correction Delay the Helium Run to $10?
A recent long-tail rejection candle on December 23rd indicates that buyers are still accumulating during market dips. This suggests that the overall trend for Helium remains bullish. Additionally, the intraday trading volume for Helium is $47.5 million, showing a 29% gain.
The Helium price has been making a recovery after a long hibernation period. It has seen a significant increase of 416% in the past three months, indicating a trend reversal. The rising trading volume further supports this trend reversal and signals a bullish interest.
Although there has been a short-term pullback from the $9 mark resulting in a 39.6% correction, the successful retest of $6.8 reflects a bullish drive in Helium. Currently, the HNT price trades at $7.58 with an intraday growth of 1.93%. If the price rebounds from its current position, it could indicate a revitalization of bullish momentum and potentially pave the way for further recovery.
If Helium bounces back, it has the potential to surpass $10 and reach the $12.57 mark.
Helium’s Potential Surge in 2024 & Breakout Signals
In addition to the short-term correction, there are indications that Helium may continue its bullish trend in the long term. With expectations of a bullish 2024 for Bitcoin due to halving and Spot ETF approval, Altcoins like Helium are also expected to gain momentum. Technical analysis shows that the breakout of key levels further supports the possibility of a bull run.
- Exponential Moving Average (EMA): The Helium price has bounced back from the 20-day EMA with a successful retest.
- Moving Average Convergence Divergence: There is a potential bearish crossover between the MACD (blue) and signal (orange) lines, which could lead to increased selling pressure.
Hot Take: Helium Eyes $10 as Bull Run Continues
Helium is making waves in the crypto market after a long period of hibernation. With a year-to-date growth of 391% and signals of a new bull run in 2024, Helium has its sights set on the $10 mark. The recent increase in demand suggests a potential continuation of the uptrend, and the price action pattern hints at a prolonged rally. As market corrections occur, it remains to be seen whether they will delay or derail Helium’s journey to $10. However, with strong support from buyers and positive technical indicators, the outlook for Helium remains optimistic.
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