Cardano’s rally intact! – But THIS could stall ADA’s $1.15 hopes
- Helium broke above $4 but for the bullish trend to continue, the price action had to flip above the $4.40 zone.
- Short positions continue to get liquidated with more forming above $4.20 while long positions build around $3.60.
Helium [HNT] saw a price increase of more than 16% in the 24 hours as of press time, according to CoinMarketCap. This resulted in the altcoin reaching $4.30 but closing at $4.23 after rejection.
However, price was closing into the wick fill.
HNT price prediction
Helium crossed above $4.00, which transformed market structure dynamics during short-term periods, with price at an essential test point at $4.40.
A successful flip of $4.40 from resistance to support might trigger additional price increases that could target beyond $5.
The MACD data where the MACD line was at 0.130 rising above the signal line at 0.096, and the histogram displayed green at 0.033 indicated upward pressure remained strong.
Source: TradingView
However, falling below $4.00 could hint at a deviation from the current trend. A pullback toward $3.80–$3.60 would then be likely.
Further downside could drag HNT to the $3.25 support zone, revisiting the 20th of April price levels.
Naturally, the $4.00 and $4.40 levels drew heightened interest from traders, as future bullish trends largely hinged on these zones.
Why are liquidation zones key for the next move?
On top of that, analysis suggested a heavy short squeeze powered the rally toward $4.23, as Liquidations piled up near $4.20 on Bybit’s HNT/USDT chart.
The grouping of short-term positions indicated that bear traders had been taken. However, short positions kept emerging above $4.20, which suggested future price obstacles could appear or fuel more uptrend if liquidated.
Long positions also accumulated actively, amounting to around 17.76K at $3.693. This price zone could naturally generate strong demand, pulling prices upward.
Source: Coinglass
HNT might advance toward $4.60 if the price manages to break through $4.40 due to its tendency to seek out liquidity pockets, which could produce more short liquidations.
A failure of the $4.20 price support could result in an eventual price dip toward the support zone at $3.60–$3.70 as long position holders wait.
HNT volatility could likely stay high until it completes its decision regarding its upcoming direction.
Blockchain meets Telecom
Beyond the price charts, Helium’s decentralized network showcased real-world utility through partnerships with AT&T and Telefónica.
This way, Helium blockchain proved applicable in telecommunications through its implementation that served 800K users per day.
The integration with carriers AT&T and Telefónica proved that major telecom companies embraced this technology.
The price of HNT could rise as network usage grows, but market volatility could affect Helium’s token value.
The alliance showed that blockchain technology was ready for business, as it offered productive decentralized connectivity that saved costs and expanded capabilities.
