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Helium Bulls Target 30% Growth: What’s Needed for a Rally?
The cryptocurrency market is witnessing a significant surge in the price of Helium (HNT), with the asset experiencing a notable 32% increase in just a few days. As a result, bulls are now setting their sights on a 30% growth target, and the conditions required to achieve this ambitious goal have become a pressing concern.
First and foremost, it is essential for HNT to break through key resistance levels. A daily close above $9.80 could pave the way for further price appreciation, potentially reaching $12.60. Conversely, failure to breach this level might see HNT plummet by 10% to $8.10.
Interestingly, traders are showing increased interest in HNT, with a 13% surge in Futures Open Interest over the past day. This growing enthusiasm could be indicative of sustained momentum. Furthermore, technical indicators appear to support this notion.
The recent price action has seen significant buying pressure, which if maintained, would further bolster Helium’s prospects. As long as these trends continue and the asset avoids any major setbacks, a 30% rally may not seem too far-fetched.
However, it is crucial to note that only time will tell whether HNT can successfully break through resistance levels and sustain this momentum. If successful, this could be a significant step forward for the cryptocurrency, as it would allow it to continue its upward trajectory.
Source: cryptonewsland.com
