Helium (HNT) price has recently gained significant attention among traders as it indicates a potential price breakout. The asset has exhibited a bullish reversal pattern, suggesting an upward trend may be on the horizon. With robust trading volume, favorable indicators, and rising market interest, HNT is now setting its sights on reaching the $5 price mark.
### Double Bottom Pattern Signals Potential for Growth
Currently, HNT is priced at $3.8777, reflecting a 4% increase over the last 24 hours. The helium asset has established a prominent double bottom pattern on its price chart, which is recognized as a bullish reversal sign. This formation suggests that the ongoing downward trend is nearing its conclusion, positioning HNT for a possible price increase. The breakout occurred above the neckline of this pattern, around the $3.87 mark, indicating a bullish market sentiment that may drive the price toward $5 in the near term. Typically, such a double bottom pattern points to the potential for significant upward movement, as market confidence grows alongside strong buying pressure.
### Technical Market Indicators Support the Bullish Trend for HNT Price
The Relative Strength Index (RSI) for HNT stands at 66.50, indicating that the asset has not yet entered overbought territory. This suggests that there is room for further price increases before reaching such levels. Additionally, the surge in buying volume is corroborated by the rise in the Cumulative Volume Delta (CVD), highlighting strong market participation that supports the ongoing buying pressure and reinforces the bullish trend. Another positive indicator is the MACD, which shows the MACD line positioned above the signal line, signaling that upward momentum might persist. Furthermore, open interest has risen by 10.72% within the past 24 hours, reflecting increasing market participation. The sustained bullish environment is likely to attract more traders, resulting in higher short-term volatility and more significant price fluctuations.
### Wedge Pattern Forms on HNT Price Chart, $15 Target for 2025
Helium ($HNT) is currently forming a wedge pattern on its price chart, a bullish reversal formation that often precedes substantial breakouts. The price is confined within this narrowing range, defined by an upper trendline and a lower trendline. Market analyst SolbergInvest suggests that breaking out from this wedge could trigger a major price movement. If HNT can overcome resistance at the $4.7 level, a rally toward $15 becomes a feasible scenario. Given the current consolidation within the wedge, a breakout could occur once the price surpasses the upper limit of this formation. The analyst posits that achieving the $15 target is realistic if the breakout is accompanied by increased volume, which would indicate strong buying interest and sustained upward momentum.
### Market Looks Up as SEC Dismisses Lawsuit
Adding to the positive outlook for $HNT, the U.S. Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, the creator of the Helium network. This dismissal with prejudice bars the SEC from pursuing similar charges against the Helium token and Nova Labs in the future. This clarity alleviates uncertainties surrounding the project, bolstering investor confidence. Successfully navigating this legal challenge marks a significant win for Helium and the broader decentralized wireless network sector. With this legal obstacle removed, the project is poised for further growth as more users continue to join its expanding network.
