HNT prices show a remarkable bullish recovery in the past three days and surpassing the $15 mark. But, will buyers manage to have a rally above $16?

Key technical points:
<ul>
 	<li style="font-weight: 400">HNT prices show a bullish reversal from the $12 mark.</li>
 	<li style="font-weight: 400">The MACD indicator shows a bullish crossover.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Helium is $39.88 Million, marking a 40% rise. </li>
</ul>
<h2>Past Performance of HNT</h2>
Since the November 2021 bloodbath, the HNT price has responded to a descending trendline. The traders actively sell on this resistance, restricting the buyers from continuing a genuine recovery. Furthermore, the sellers have recently breached the $16 support level, and the ongoing retest phase might highlight a shorting opportunity. 

<img src="https://s3.tradingview.com/snapshots/y/Yo1Kt4nR.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/Yo1Kt4nR/">Tradingview</a>
<h2>HNT Technical Analysis </h2>
On April 4th, the HNT price turned down from the $28 resistance and initiated a new bear cycle. The falling price has breached the $20 and $16 support, registering a 57% loss. 

The crucial daily EMAs maintain a falling trend in a bearish alignment with increasing spread among the lines. Moreover, the price falling under all the EMAs reshape the lines as resistance levels. 

The RSI slope shows a sharp V-shaped recovery after dipping into the nearly oversold category and effortlessly surpassing the 14-day SMA line. Hence, the RSI slope reflects a significant increase in the underlying bullishness.

The MACD and signal lines are nearing a bullish crossover tease a fakeout to the $16 support. However, these line moving below the neutral line reflects an overall bearish trend.

In short, the HNT technical analysis displays a high likelihood of price surpassing the $16 mark but questions the sustenance.
<h2>Upcoming Trend </h2>
On the higher end, a fresh inflow of demand will inflate the HNT prices above $16 to hit the psychological mark of $20. However, if sellers sustain the pressure, prices will succumb below the $16 support and plunge 40% lower to the next psychological support of $10.

Resistance Levels: $16 and $20

Support Levels: $14 and $12

HNT Technical Analysis: Will HNT Sustain Above $16?

HNT prices show a remarkable bullish recovery in the past three days and surpassing the $15 mark. But, will buyers manage to have a rally above $16?

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: Will HNT Sustain Above $16?

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