<strong><em>Responding to a cup and handle pattern, the HNT price tends to breach the $12 resistance. Should you enter this breakout trade?</em></strong>

<strong>Key technical points:</strong>
<ul>
 	<li>The HNT price reclaims the 20-and-50-day EMA.</li>
 	<li>The HNT sellers mount a strong supply region at $12</li>
 	<li>The 24-hour trading volume of Helium is $26 Million, indicating a hike of 69%.</li>
</ul>
<h2>Past Performance of HNT</h2>
Following the April-May bloodbath, which plunged the HNT/USDT pair to a low of $6.59, the coin traders witnessed a sideways rally bounded between the $11.2 and $6.75 mark. Furthermore, this consolidation phase shaped into a cup and handle pattern, indicating a reversal opportunity for coin traders.

<img src="https://s3.tradingview.com/snapshots/v/vjBaVjEi.png" alt="TradingView Chart" />

<strong>Source- </strong><a href="https://www.tradingview.com/x/vjBaVjEi/" target="_blank" rel="noopener">Tradingview</a>
<h2><span style="font-weight: normal">HNT Technical Analysis </span></h2>
The HNT price is rising for the third consecutive day, registering an 18.55% gain. Furthermore, the bullish recovery rally hits the $12 neckline of the cup and handle pattern, indicating the buyer attempts to regain trend control. The DMI indicator shows a bullish crossover of the DI lines, and the falling trend in the ADX line represents a weakness in the previous bearish trend. Hence, traders can expect a bullish trend to continue after the range breakout

The daily-RSI indicator showing sustainability above the equilibrium and 14-SMA slope accentuate the improving sentiment of market participants. The MACD indicator shows the fast and slow lines surge above the neutral line, providing additional confirmation for a $12 breakout. Moreover, the rising green bars in the histogram chart highlight growth in underlying bullishness. In a nutshell, the HNT price action forecasts a recovery rally to $16.5 if buyers trigger the Cup and handle pattern.
<h2><span style="font-weight: normal">Upcoming Trend</span></h2>
If <a href="https://www.cryptoknowmics.com/news/hnt-technical-analysis-there-is-strength-there-will-be-growth/">HNT</a> buyers could manage a daily candlestick closing above the $12 neckline, the technical set-up should drive coin prices 36% higher to $16.5. On a contrary note, if sellers prevent the neckline breakout and sustain the altcoin below $12, the consolidation phase would continue for a few more sessions.

<strong>Resistance Levels:</strong> $12 and $14.2

<strong>Support Levels:</strong> $10 and $8.1

HNT Technical Analysis: Reversal Pattern Could Pump Price by 38%

HNT Technical Analysis shows that the HNT price tends to breach the $12 resistance. Should you enter this breakout trade?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

HNT Technical Analysis: Reversal Pattern Could Pump Price by 38%

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