Helium (HNT) price is back in the spotlight, up more than 8% in the last 24 hours. However, despite the short-term gains, technical indicators are sending mixed signals about future price action.
The ADX signals weakening trend strength and cooling momentum, while the RSI is at a neutral level. The EMA lines are signaling a potential bullish crossover. HNT is approaching a key turning point as to whether it will rally towards $9.53 or test critical support levels near $6.86.
Helium’s Average Directional Index (ADX) is currently at 26.5, a significant drop from its highs of over 50 a week ago. At the time, the price had climbed above $9, reaching those levels for the first time since March 2024. This decline in the ADX indicates that the recent uptrend is losing strength and that momentum is stalling or slowing. While the ADX measures the strength of a trend, it does not indicate its direction. Values above 25 indicate a strong trend, while values below 20 indicate a weak trend.
The ADX at 26.5 is just above the threshold level of a strong trend, indicating that the trend is continuing but weakening. If the HNT price is to regain its uptrend, the ADX needs to move higher, reflecting stronger buying interest.
HNT’s Relative Strength Index (RSI) is currently at 52. The RSI had risen above 70 last December when the price was rising rapidly. The current RSI decline suggests a decrease in buying power compared to previous overbought conditions. The RSI being in neutral territory reflects that market enthusiasm has cooled after the recent rally. Additionally, HNT’s RSI fell to a low of 28 on December 10, suggesting that buying pressure may be returning. The RSI ranges from 0 to 100, with readings above 70 indicating overbought conditions and below 30 indicating oversold conditions.
HNT is currently neither overbought nor oversold, suggesting that the price is consolidating. For the uptrend to continue, the RSI needs to rise and buying power needs to be renewed. Otherwise, a drop below 50 could signal weakening momentum.
Helium’s Exponential Moving Average (EMA) lines are giving mixed signals. The short-term EMA line had crossed below another EMA, indicating a bearish reversal. However, the short-term EMA is now starting to rise again. If these lines cross above once again, it could indicate renewed bullish energy and trigger a price increase. If a bullish crossover occurs, HNT price could retest the resistance around $9.53. However, the weakening trend shown by the ADX suggests caution. If the downtrend continues, HNT price could test the support at $6.86. If this level is broken, the price could drop to $5.55, which would mean a 33% drop.