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Back to $1 Billion Market Cap
Helium (HNT) price is up roughly 150% this year and its market capitalization recently reached the $1 billion market cap. The Chaikin Money Flow (CMF) has turned positive at 0.15, signaling strong buying pressure and supporting recent price gains.
If the golden cross forms as EMA lines suggest, HNT could test resistances at $6.5 and $7.2, but a reversal might lead to support levels at $6 or as low as $5.28.
HNT CMF Is Now Positive
HNT CMF has surged to 0.15 from -0.06 in just one day, signaling a significant shift toward positive buying pressure. The CMF, or Chaikin Money Flow, measures the flow of capital into or out of an asset over a specific period, with values above 0 indicating net inflows (buying dominance) and values below 0 reflecting net outflows (selling pressure).
This sharp rise highlights growing confidence among buyers, supporting HNT’s recent 5% price increase.
A CMF of 0.15 indicates strong bullish sentiment, suggesting that the current uptrend has solid backing from capital inflows. If the CMF continues rising, it could signal further upward momentum for HNT, potentially resulting in additional price gains.
Helium RSI Shows Potential For More Price Increase
Helium RSI has climbed to 58 from 46 in just one day, reflecting growing bullish momentum. The RSI, or Relative Strength Index, measures the speed and magnitude of price changes on a scale from 0 to 100.
Values above 70 signal overbought conditions and a potential for a correction, while values below 30 indicate oversold levels, often leading to a rebound. An RSI of 58 suggests that HNT is in a healthy uptrend without approaching overbought territory yet.
With the RSI still well below 70, HNT’s current uptrend has room to continue before hitting overbought levels. This leaves space for further price growth as buying momentum builds.
If the RSI continues its upward trend, HNT price could see additional gains in the short term, supported by its current bullish sentiment.
HNT Price Prediction: Can HNT Reach $7 Soon?
HNT EMA lines show the potential formation of a golden cross, where a short-term EMA crosses above a long-term EMA. This pattern is a bullish signal, often indicating the start of a sustained uptrend.
If the golden cross forms and momentum continues, Helium price could break through the $6.5 resistance level and potentially climb to $7.2, reinforcing its bullish trajectory and the recent $1 billion market cap milestone. This would also reinforce HNT in the top 10 ranking among DePIN (Decentralized Physical Infrastructure) coins.
However, if the current uptrend weakens and reverses, HNT price may face critical support levels.
The price could first test $6, and if that fails, it might drop to $5.57 or even $5.28.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price remained supported above the $3,250 zone. ETH started a fresh surge and cleared the $3,550 resistance zone.
- Ethereum started a fresh increase from the $3,250 support zone.
- The price is trading above $3,500 and the 100-hourly Simple Moving Average.
- There was a break above a connecting bearish trend line with resistance at $3,375 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is up nearly 10% and now consolidates gains near the $3,650 zone.
Ethereum Price Starts Fresh Surge
Ethereum price remained supported above $3,250 and started a fresh increase bearing Bitcoin. ETH was able to surpass the $3,350 and $3,400 resistance levels.
There was a break above a connecting bearish trend line with resistance at $3,375 on the hourly chart of ETH/USD. The bulls pumped the price above the $3,500 and $3,550 resistance levels. It gained nearly 10% and traded as high as $3,688.
The price is now correcting gains below the $3,650 level. Ethereum price is now trading above $3,550 and the 100-hourly Simple Moving Average. It is also above the 23.6% Fib retracement level of the upward move from the $3,254 swing low to the $3,688 high.
On the upside, the price seems to be facing hurdles near the $3,650 level. The first major resistance is near the $3,685 level. The main resistance is now forming near $3,720.
A clear move above the $3,720 resistance might send the price toward the $3,840 resistance. An upside break above the $3,840 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,950 resistance zone or even $4,000.
Downsides Supported In ETH?
If Ethereum fails to clear the $3,685 resistance, it could start another decline. Initial support on the downside is near the $3,585 level. The first major support sits near the $3,550 zone.
A clear move below the $3,550 support might push the price toward the 50% Fib retracement level of the upward move from the $3,254 swing low to the $3,688 high at $3,470. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,250.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,485
Major Resistance Level – $3,685
Data from analytics firm CoinGecko shows that Layer-1 native tokens grew by 7,000% in 2024. While major projects like Bitcoin and Ethereum recorded significant gains, other tokens saw notable growth in niche markets.
However, with Layer-2 projects rising in popularity, newly launched L1s faced an extremely competitive and harsh environment.
Layer-1 Tokens Surge in 2024
CoinGecko, a leading blockchain analytics firm, just posted a dramatic update on the 2024 crypto market. Layer-1 blockchain tokens have surged by over 7000% since January 2024, with several unexpected candidates growing fastest. The firm pointed to several trends, but Trump’s election victory further fueled the rally, sparking a broader bull market.
“The cryptocurrency market in 2024 went vertical, encouraged by Trump’s election victory. The demand for L1 solutions has surged… with competition picking up between L1 blockchains to claim the top spot. However, they face stiff competition from Layer-2 solutions, which aim to improve transaction speeds at a fraction of the costs,” CoinGecko claimed.
CoinGecko data showed that the classic examples (Bitcoin, Ethereum, Solana, etc) led in market cap, but some dark horse candidates overtook them in percentage growth. The biggest Layer-1 blockchain projects obviously hold a significant lead in many crucial areas; for example, the CEO of analytics firm CryptoQuant claimed Bitcoin could be a global currency by 2030.
Still, these advantages are not necessarily insurmountable. Although Bitcoin came perilously close to $100,000 last week, it never achieved this milestone. CryptoQuant data claimed that this blunted momentum could significantly delay this price point, thanks to overwhelming market greed. Some assets, however, are benefiting from different advantages.
Mantra (OM) recently reached an all-time high, emerging as a standout performer. CoinGecko attributed OM’s success to a partnership that connected it with the expanding RWA tokenization market. Similarly, AIOZ saw steady growth, supported by its content delivery network. CoinGecko also noted the rapid expansion of Layer-2 networks in this sector.
Despite this, CryptoQuant highlighted the intense competition in the Layer-1 blockchain market. Their analysis showed that most Layer-1 projects launched this year experienced significant losses. While established Layer-1 protocols benefit from their existing presence, the rising Layer-2 market makes it increasingly challenging for new protocols to succeed.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
XRP price is consolidating near the $1.450 zone. The price is showing positive signs and might soon aim for a fresh move above the $1.50 level.
- XRP price is eyeing a fresh increase above the $1.465 resistance zone.
- The price is now trading above $1.450 and the 100-hourly Simple Moving Average.
- There was a break above a key bearish trend line with resistance at $1.4580 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might gain momentum if it clears the $1.500 resistance.
XRP Price Holds Gains Above $1.40
XRP price remained supported near the $1.30 zone. It formed a base and recently started an upward move like Bitcoin and like Ethereum. There was a move above the $1.3550 and $1.3750 resistance levels.
There was a break above a key bearish trend line with resistance at $1.4580 on the hourly chart of the XRP/USD pair. The pair was able to clear the $1.50 level. A high was formed at $1.5238 and the price is now consolidating near the 23.6% Fib retracement level of the upward move from the $1.2828 swing low to the $1.5238 high.
The price is now trading above $1.45 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1.500 level. The first major resistance is near the $1.5250 level.
The next key resistance could be $1.550. A clear move above the $1.550 resistance might send the price toward the $1.5850 resistance. Any more gains might send the price toward the $1.600 resistance or even $1.620 in the near term. The next major hurdle for the bulls might be $1.650 or $1.6550.
Another Decline?
If XRP fails to clear the $1.500 resistance zone, it could start a downside correction. Initial support on the downside is near the $1.4300 level. The next major support is near the $1.40 level or the 50% Fib retracement level of the upward move from the $1.2828 swing low to the $1.5238 high.
If there is a downside break and a close below the $1.40 level, the price might continue to decline toward the $1.3750 support. The next major support sits near the $1.350 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – $1.4300 and $1.4000.
Major Resistance Levels – $1.5000 and $1.5250.
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