Helium recorded a double bottom reversal above $5, surged 70% as buyers look to extend the uptrend to $10.
Altcoins are gaining momentum as Bitcoin prices surge above the $67,000 level. Among the top performers, Helium continued its bull run from last week, surging 4.42% on Monday.
Helium’s surge has reclaimed the psychological level of $5 and buyers are anticipating a continuation of the uptrend. Will the bulls reach the next psychological level of $10 and surge 100%?
Helium Trend Reversal Above All EMAs
Reversing from the recent 68% correction in Q2 2024, Helium has found a solid support area at the $2.85 level. Despite dropping below the $3 level, price action is indicating a double bottom reversal with the $2.85 baseline.
The bullish reversal has surpassed all the significant daily EMAs (20, 50, 100, 200) and recorded a 75% surge over the past 16 days. Currently, the HNT token is trading at $5.155, up 0.53% intraday on the back of a bullish candlestick.
The trend reversal is signaling a bottom reversal for the HNT token, with the neckline at $6.148. Moreover, the neckline coincides with the 38.20% trend-based Fibonacci level.
Helium price is surging higher, with the 20D EMA showing a bullish crossover with the 50D EMA. Moreover, the MACD and signal line are maintaining their bullish trend and crossing into positive territory with a series of positive histograms.
Will HNT increase by 100% in 2024?
According to trend-based Fibonacci levels, Helium’s bullish reversal has crossed the 23.60% Fibonacci level, further indicating that a rounded bottom reversal is approaching the neckline at the 38.20% level ($6.148) with the breakout rally strengthening the uptrend momentum.
Based on the retracement levels, Helium can rise above the psychological level of $10 and reach $11.462.
Helium Mobile subscriber numbers surpass 100,000
This bullish upward trend may be further strengthened by the development of the ecosystem surrounding Helium. Firstly, Helium Mobile recently surpassed 100,000 subscribers. Furthermore, Helium Mobile Data It has gained 2,744 users in the past seven days.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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