The Helium blockchain powers the People’s Network that aims to bring about innovations in decentralized wireless infrastructure. It is a Proof-of-Stake as well as a Proof-of-Coverage-based ecosystem. It provides a robust platform for building novel decentralized apps based on wireless technologies. HNT is the <a href="https://www.cryptoknowmics.com/news/hnt-technical-analysis-price-may-soon-surpass-levels-of-1396-and-1407/">utility token of this ecosystem</a>. Let us look at the technical analysis of HNT.
<h2><b>Past Performance</b></h2>
On Jul 19, 2021, HNT opened at $11. On Jul 25, 2021, HNT closed at $11.97. Thus, in the past week, the HNT price has increased by roughly 9%. In the last 24 hours, HNT has traded between $11.55-$12.62.

<img class="shrinkToFit" src="https://s3.tradingview.com/snapshots/5/5bhOBRrj.png" alt="https://s3.tradingview.com/snapshots/5/5bhOBRrj.png" width="1359" height="643" />

<a href="https://s3.tradingview.com/snapshots/5/5bhOBRrj.png">https://s3.tradingview.com/snapshots/5/5bhOBRrj.png</a>
<h2><b>Day-Ahead and Tomorrow</b></h2>
Currently, HNT is trading at $12.25. The price has increased from the day’s opening price of $11.97. Thus, the market seems bullish.

The <strong>MACD and signal lines</strong> are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price rise amidst an overall bearish trend.

Currently, the <strong>RSI indicator</strong> is at 47%. It faced rejection at 32% and rose to the current level. Hence, buying pressures are high. High buying activity will exert upward pressure on the HNT price.

Besides, the <strong>OBV indicator</strong> is rising steadily. Thus, buying volumes are gradually surpassing selling volumes. Hence, the price may increase further.

In short, all three oscillators have indicated a price rise. However, we have to wait if this price rise is a temporary market corrective action or the beginning of a trend reversal.
<h2><b>HNT Technical Analysis</b></h2>
Currently, the price is above the <strong>Fibonacci pivot point</strong> of $12.05. The price may soon surpass the <strong>first Fibonacci pivot resistance level</strong> of $12.45. Thereafter, we have to wait and watch if the price rises further or falls again.

The price has tested and risen above the <strong>38.2% FIB retracement level</strong> of $12.21. It may soon break out of the <strong>23.6% FIB retracement level</strong> of $12.37 as well. If by day end, the price retests and falls below these levels, a price downtrend has probably set in. In that case, the price may decrease further tomorrow.

HNT Technical Analysis: Price Above the Fibonacci Pivot Point of $12.05, May Soon Surpass the Resistance Level of $12.45

HNT tested and risen above the 38.2% FIB retracement level of $12.21. It may soon break out of the 23.6% FIB retracement level of $12.37 as well. If by day end, the price retests and falls below these levels, a price downtrend has probably set in. In that case, the price may decrease further tomorrow.

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

HNT Technical Analysis: Price Above the Fibonacci Pivot Point of $12.05, May Soon Surpass the Resistance Level of $12.45

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