Helium is starting to pick up steam after its price dropped pretty low. The crypto is known for connecting real-world devices to blockchain networks. Crypto analyst Erik posted on X about where HNT’s price is headed. He included a chart in his post showing important price points. Based on his analysis, HNT could climb all the way up to $18-$20.

Helium Technical Analysis

The chart analysis highlights Helium’s strong recovery from its macro bottom, where a reversal in the downtrend was evident. After establishing higher highs and higher lows, the cryptocurrency has shown a bullish market structure. 

Critical support zones are marked at $3.5 and $5, with $7 identified as the level that bulls need to protect to maintain the uptrend. Resistance zones are placed between $18-$20, which Erik predicts as the next target range.

An intermediate level at $11 serves as a crucial pivot point, and its reclamation could confirm the upward movement of  HNT’s price. The High Time Frame (HTF) Point of Interest bounce level, where significant buying interest was observed, has been a focal point for the current rally.

Liquidity and Momentum Indicators

The chart indicates that the HNT price has filled prior liquidity imbalances, consolidating before resuming its upward movement. While no indicators were explicitly shown, the analysis suggests strong bullish momentum. Erik’s projection aligns with the technical outlook, which shows a path targeting a 184% move toward the pink resistance zone.

Image Source: X/Erik Erik’s Tweet and Broader DEPIN Ecosystem

The analyst highlights Helium’s retrace to a discount zone and its subsequent bounce from the HTF POI level. He anticipates a “massive rally” toward the $18-$20 range. Erik further connects Helium to the broader DEPIN ecosystem, mentioning projects like $AUKI, $PEAQ, $NATIX, $HONEY, $NCN, and $ATH as notable players in the space.

This connection underscores Helium’s relevance and potential as a leader in DEPIN. Erik’s consistent call for followers to stay updated reflects the broader community interest in HNT and its future price movement.

Read Also: Here’s How the Bitcoin Price Historically Performed on the Christmas Day

The current price trajectory shows Helium poised for further growth, with key levels playing pivotal roles in its progression. The $7 support zone must hold to sustain bullish momentum, while $11 serves as a stepping stone to reach the $18-$20 target range. With both technical and fundamental narratives aligning, Helium’s position as a DEPIN leader strengthens its bullish case. As the market awaits further updates, traders and investors will be monitoring these levels.

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