In the evolving cryptocurrency market, mixed performance continues across altcoins, with many experiencing corrections. However, Helium ($HNT) and Ethereum Name Services ($ENS ) are bucking the trend, extending their upward momentum. Over the last 24 hours, HNT has surged by 10%, while ENS has gained over 2%, signaling sustained investor interest.
Helium (HNT): Testing Critical Resistance
Helium (HNT) has delivered a remarkable 60% rally over the past month, with its price rising from a monthly low of $5.75 to its current level of $9.17.
On the daily chart (HNT-1D), $HNT is trading within a significant resistance zone between $9.12 and $9.60. This zone has previously acted as a barrier to price advances, making it a critical area for traders to monitor. A breakout above this level could trigger further upside momentum.
Next Targets for HNT
If HNT successfully breaches the $9.60 resistance, the next key target is $11.00, representing a potential 14% upside from the breakout point.
The Relative Strength Index (RSI) for HNT is currently at 68, indicating strong bullish momentum. However, traders should remain cautious as the token nears overbought conditions, which could lead to a pullback before further gains.
Ethereum Name Services (ENS): Sustained Momentum Near Resistance
Ethereum Name Services (ENS) has been one of the top-performing altcoins, rallying 163% in the last 30 days. Its price has soared from a monthly low of $16 to a recent high of $46.89.
On the 4-hour chart (ENS-4H), $ENS is currently trading at $44.00, testing a critical resistance zone between $43 and $46.89. A decisive breakout above this range could signal the next phase of ENS’s bullish rally.
Next Targets for ENS
If ENS clears the $46.89 resistance level, the next key resistance is at $50. A sustained move above this level could open the door for a rally toward $84, representing an impressive 80% upside from the breakout zone.
The RSI for ENS is at 65, suggesting bullish momentum with room for further gains before overbought conditions are reached.
Market Outlook: HNT and ENS Poised for Potential Gains
Both HNT and ENS are approaching pivotal resistance zones. A successful breakout from these levels could unlock significant bullish potential, with price targets at $11 for HNT and $50 to $84 for ENS.
Additionally, a recent decline in Bitcoin dominance indicates a shift in market focus toward altcoins. If this trend persists, HNT and ENS could attract increased investor attention and liquidity inflows, further supporting their upward trajectories.
Traders should closely monitor these critical resistance levels and RSI indicators to assess the strength of any potential breakouts. While opportunities for gains are apparent, market participants should remain vigilant for signs of overbought conditions or trend reversals.
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