HNT Technical Analysis: Wedge Breakout Rally Eyes Beyond $30 Mark

HNT coin price surpasses the shared resistance of descending trendline and 20-day EMA with a sudden volume increase; can buyers sustain this new recovery? Key technical points: The HNT price surged 13.3% in the last three days The HNT price jumps above the 20-day EMA. The 24-hour trading volume of Helium is $36.5 Million, marking a 0.56% rise. Past Performance of HNT Since the downtrend initiated in November 2021, the HNT traders have been aggressively selling within a falling wedge pattern. As a result, the altcoin has recently slumped to the $20 psychological mark, indicating a 67% devaluation for All-Time High($59.1). Furthermore, the coin rebounded from the $20 support projects, a high accumulation zone. Source-Tradingview HNT Technical Analysis The HNT price gradually squeezing between the converging trendline has finally provided a decisive upside breakout on March 16th. This suggests the traders’ sentiment has switched from selling the rallies to buying on dips. The recent price jump has reclaimed the 20-day EMA and the descending trendline breakout. The potential rally could prevent the nearing bearish crossover between the 100-and-200-day EMA. Vortex Indicator: The VI lines are approaching for a bullish crossover, providing an extra edge to long traders. MACD Indicator: The MACD and signal line gradually rallying following a bullish crossover. The rising green bars on the histogram chart suggest increasing bullish mom...