FxWirePro- INJUSD Daily Outlook

HNTUSD breaks significant resistance $8, jump to $10 possible (Chart of the day)

Helium is a decentralized distributed network of Hotspots for Internet of Things (IoT) devices using the LoRaWAN system. It is one of leading DePIN protocol.

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Any weekly close above $8 confirms further bullishness.

HNTUSD breaks significant resistance $8 after a long consolidation.The pair holds well above the short-term (34 and 55 EMA) and the long-term moving average in 4-hour chart. It hit a high of $8.36 and is currently trading around $8.04.

The bullish invalidation can happen if the pair closes below $3.50. On the lower side, the near-term support is $7.38. Any break below targets $6.90/$6.50/$6.

The immediate resistance stands at around $8.55. Any breach above confirms a minor pullback. A jump to $9.20/$10 is possible.

Indicator (4-Hour chart)

CCI (14)- Bullish

CCI (50)- Bullish

Average directional movement Index - Bullish

It is good to buy on dips around $7.80-82 with SL around $6.90 for TP of $10

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