OrangeXBT, a prominent analyst, shared with his followers on X that Helium is delivering on its promises, suggesting that HNT’s price could be on the verge of a substantial breakout.
Based on his analysis of Fibonacci retracement levels, OrangeXBT predicts that HNT’s price may experience a tenfold surge from its current value of $7.71.
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Show more +Show less – HNT Chart Analysis: Fibonacci Levels Indicate Major Resistance Zones
OrangeXBT’s HNT chart shows key Fibonacci levels that could act as crucial resistance points for Helium’s price. The 1.618 Fibonacci extension is the first target at $88.70, a substantial increase from the current price of $7.71. This level often indicates where prices tend to rally after surpassing previous highs.
Image Source: X/OrangeXBT
Should the bullish trend continue, the next potential resistance levels are $142.82 and $196.94, based on the 2.618 and 3.618 extensions. These levels suggest that Helium’s rally could have room to run even after the $88.70 target is reached. The highest possible extension outlined on the HNT chart is $230, aligning with OrangeXBT’s bullish prediction of a 10x surge.
Helium’s Price Action and Market Outlook
At its current price of $7.71, HNT is trading well below these potential resistance levels. However, the chart suggests that HNT’s price could begin testing these zones if the market remains favorable.The first major hurdle to watch for is $55.25, the 2x extension level, which could act as a short-term target before testing the $88.70 resistance.
According to OrangeXBT, a 10x return could be possible if Helium’s price breaks through key resistance points. The analysis indicates that the move to these higher levels may take time, with the chart suggesting a 105-day timeframe for significant price action.
Read Also: Analyst Highlights Next Key Levels for Injective (INJ) as Rally Continues, Anticipates 100% Price Surge
Helium’s Long-Term Potential with Real-World Utility
OrangeXBT emphasized Helium’s real-world utility, noting that it continues to deliver on its promises. Helium powers a decentralized wireless network that supports various IoT devices, adding practical value to the token.
This utility, combined with favorable technical patterns, could drive the price upward, especially as more users adopt Helium’s network.
Furthermore, the state of the market continues to affect the trajectory of Helium’s price; nonetheless, given its technical prowess and practical applications, Helium may be a promising long-term growth prospect. Investors are closely monitoring whether or not to break through the upcoming significant resistance levels.
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The post Helium (HNT) Price Primed for Breakout – Could $230 Be Next? appeared first on CaptainAltcoin.
