Helium prices surged by 16%, but this specific line could potentiallyreverse the trend!
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Headline: The Crucial Liquidation Zones for Helium (HNT) - Where Market Trends Could Shift
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Helium [HNT], following a surge of over 16%, broke past the $4.00 mark but struggled to maintain the momentum,Currently hovering at $4.23 after a slight pullback.
Helium's Future OutlookThe cryptocurrency finds itself at a crucial turning point, with prices teetering on the edge of $4.40, a level that, if flipped from resistance to support, could precipitate further gains and potentially take Helium beyond $5.
The MACD data, a popular technical indicator, confirms the upward pressure, with the MACD line at 0.130 rising above the signal line at 0.096. The histogram displays a bullish green at 0.033.
If Helium fails to hold above $4.00, however, it could retreat toward the $3.80-$3.60 range. A more significant downturn could even pull it back to the $3.25 support zone, revisiting levels not seen since April.
These key levels have garnered increased attention from traders, as they play a defining role in shaping Helium's ongoing trajectory.
The Role of Liquidation ZonesThe recent rally toward $4.23 was, in part, driven by a significant short squeeze, with liquidations piling up near $4.20 on Bybit's HNT/USDT chart. This suggests that bearish traders have been adversely affected, and as long as new short positions continue above $4.20, there may be obstacles ahead—unless seemingly low-risk shorts are liquidated, potentially fueling further uptrend.
On the flip side, long positions have been steadily accruing, reaching approximately 17.76K at $3.693. This price zone serves as a powerful support, capable of sparking solid demand if prices drop. If Helium manages to break through $4.40, it might be pushed up to $4.60 as it seeks areas with higher liquidity and potentially triggers more short liquidations.
Helium - Bridging Blockchain and TelecomBeyond the charts, Helium demonstrates real-world utility through strategic partnerships with companies like AT&T and Telefónica. These collaborations showcase the potential for the Helium blockchain in the telecommunications sector and emphasize its relevance as a cost-saving, capability-expanding technology.
The integration with major telecom firms could boost Helium's network usage, in turn increasing demand for the cryptocurrency. However, market volatility remains a significant factor, with its potential impact on the price of HNT. The alliance between firms in the telecommunications and blockchain sectors signals a growing acceptance and readiness for this emerging technology.
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- The overbought territory on TradingView hints at a potential correction for Helium (HNT), as the Relative Strength Index (RSI) indicates the tendency toward an overbought condition.
- The latest rally in Helium's price might face obstacles ahead due to the significant short positions accumulated near $4.20 on Bybit's HNT/USDT chart, based on the recent liquidation zones.
- As Helium moves beyond $4.40, it's likely to encounter higher liquidity levels, which could trigger more short liquidations, following the likely uptrend based on the MACD data.
- Strategic partnerships with companies like AT&T and Telefónica underscore the potential of Helium's blockchain technology in the telecommunications sector, likely leading to increased network usage and demand for the cryptocurrency.
- The growing alliance between firms in the telecommunications and blockchain sectors is a testament to the increasing acceptance and preparedness for this emerging technology, influencing the price prediction and ongoing trajectory of cryptocurrencies such as Helium (HNT).
