Helium price analysis #HeliumNetwork

Helium (HNT) has started an up move in the past few days. The bears attempted to pull the price down on Sept. 3, but the bulls successfully defended the 20-day EMA ($7.33).

A minor negative on the charts is the developing bearish divergence on the RSI. This suggests that the bullish momentum is weakening. A break and close below the 20-day EMA will tilt the advantage in favor of the bears.

However, if the price turns up from the current level or the 20-day EMA and breaks above $8.67, it will suggest that the uptrend remains intact. The HNT/USDT pair could then attempt a rally to $10.

The 4-hour chart shows that the pair is facing resistance at $8.50. The flattening 20-EMA and the RSI near the midpoint suggest that the buying pressure is reducing. A break and close below the 50-SMA could open the doors for a fall to $7.

Alternatively, if the price turns up from the moving averages, the bulls will make another attempt to drive the pair above $8.67. If they succeed, the pair could resume its up move to $9.75.