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

Responding to a cup and handle pattern, the HNT price tends to breach the $12 resistance. Should you enter this breakout trade? Key technical points: The HNT price reclaims the 20-and-50-day EMA. The HNT sellers mount a strong supply region at $12 The 24-hour trading volume of Helium is $26 Million, indicating a hike of 69%. Past Performance of HNT 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. Source- Tradingview HNT Technical Analysis 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 ri...