The Helium price has displayed a significant correction in its valuation amid increased price volatility in the crypto market. Moreover, with a Year-to-Date (YTD) return of -34.59%, this altcoin has secured the 94th position with a market capitalization of $728.884 million.

With the rising uncertainty, will this altcoin maintain its bearish price action and achieve a new 52-week low this month? Or is a bullish reversal incoming? Let’s understand the short-lived price analysis of the Helium (HNT) crypto token today.

Helium Price Retests Its Important Resistance Level!

The HNT price has surged 20.98% in 24 hours with a trading volume of $12.054 million. Moreover, it has added over 22% to its valuation in the past week. However, this altcoin has displayed a negative long-term action, hinting at a bearish outlook for the HNT coin price.

The Relative Strength Index (RSI) records a sharp spike toward the neutral point in the daily time frame. Moreover, with its average trendline acting as a support, the Helium price may continue gaining value in the coming time.

On the other hand, the SMA indicator displays a positive crossover in the Helium price chart. This highlights a positive outlook for the altcoin this week.

Will HNT Price Ever Recover?

If the bulls regain momentum, the Helium price will retest its resistance level of $5.155. Moreover, if the bullish sentiment intensifies, this could push the price of the HNT token toward its upper resistance level of $6.525 in the upcoming time.

On the contrary, if the bears maintain dominance, the HNT price will retest its support level of $3.80. That said, if the bearish sentiment intensifies, this could pull the HNT coin price toward its crucial low of $2.510 this month.

Are you one of many who are wondering about the long-term price prospects of the HNT token? Read our latest Helium Price Prediction to uncover the possible mysteries!