<strong><em>HNT prices sustain above the $8 mark and surge 20% today, forming a bullish engulfing candle to surpass the $10 mark. Will the reversal rally reach $12?</em></strong>
<h3><strong>Key technical points:</strong></h3>
<ul>
 	<li>The market price has increased 25.50% over the past 24 hours.</li>
 	<li>The price action shows a bullish engulfing candle struggling to close above $10.</li>
 	<li>The 24-hour trading volume of Helium is $91.09 Million, indicating a hike of 80%.</li>
</ul>
<h2>Past Performance of HNT</h2>
Succumbing to the global bear market, <a href="https://www.cryptoknowmics.com/news/hnt-technical-analysis-booming-recovery-rally-eyes-16/">HNT</a> prices took a nosedive under the $10 mark after struggling to sustain above the 50-day EMA. The downfall comes with a tweezer top formation near the $12 mark and falls 35% in four days. The free fall brings market value to $8 by the end of Monday. However, today we see a bullish surge of more than 20% resulting in the engulfing candle, indicating the high possibility of an uptrend continuation.

<img src="https://s3.tradingview.com/snapshots/f/FOWkOH4P.png" alt="TradingView Chart" />

<strong>Source-</strong> <a href="https://www.tradingview.com/x/FOWkOH4P/" target="_blank" rel="noopener">Tradingview</a>
<h2>HNT Technical Analysis</h2>
The sudden and intense increase in trading volume reflects a rise in demand for HNT as it coincides with the price jump. Hence, traders can expect the long-term trend to be bullish if the buying pressure sustains over the week. The <strong>MACD indicator </strong>displays the fast and slow lines avoiding a bearish crossover and returning to the bullish alignment with an increase in spread. In addition, the growth of bullish histograms is a sign of an increase in demand for Helium tokens.

The RSI slope displays a sharp V-shaped turnaround before reaching the oversold boundary to challenge the 14-day SMA and the halfway line. Thus, the <strong>RSI indicator </strong>shows a sudden growth in underlying bullishness, adding some points to the bullish reversal rally. Thus, the indicators showcase a rise in bullish reversal trend momentum, supporting the price action analysis suggesting an uptrend continuation. In a nutshell, the HNT technical analysis predicts a high likelihood of the reversal rally surpassing the $12 mark.
<h2>Upcoming Trend</h2>
Suppose the reversal closes above the $10 mark; the HNT prices will soar higher to the $12 mark.

<strong>Resistance Levels:</strong> $10 and $12

<strong>Support Levels:</strong> $8 and $6.25

HNT Technical Analysis: Reversal Rally Skyrockets 20% Today

HNT Technical Analysis shows HNT prices sustain above the $8 mark and surge 20% today, forming a bullish engulfing candle to surpass the $10 mark.

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 Rally Skyrockets 20% Today

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