TradeCityPro | HNTUSDT Don’t Miss the New Move!👋 Welcome to TradeCityPro Channel!
Let’s get ready for the upcoming week! We’ll either see a strong movement or some consolidation, so let’s prepare our triggers in advance and analyze all scenarios before the market moves.
🌍 Bitcoin Overview
As always, let’s start by checking Bitcoin to complement our altcoin analysis. Today, BTC broke its 102,135 trigger but faces a significant resistance at 103,504. With increased volume, a breakout above this level could finally help BTC clear the critical $100K barrier.
For the upcoming week, if Bitcoin’s dominance rises and BTC follows suit, prioritize Bitcoin trades or coins that perform well against BTC. If BTC dominance drops, focus on altcoins. However, the first bullish move will likely coincide with rising BTC dominance.
⏰ Weekly Time Frame
Helium (HNT) shows relatively strong performance compared to other altcoins and is a good candidate to add to your portfolio this week!
HNT started its upward movement before the current bull run, maintaining a positive trend since 2023. This year, it recorded a higher low compared to 2023 and is now approaching its main resistance, attempting to break through.
The coin follows a parabolic trajectory, which is inherently bullish. Each time it hits the lower boundary of this parabola, it rebounds strongly, and this trend could continue.
This week’s candle closing above the SMA7 signals buyer strength despite seller presence. Buyers have emerged victorious with significant volume. After this candle closes, you can consider a spot buy with a risky stop loss below the shadow or a safer stop loss at 5.437. If RSI enters the overbought zone, expect a sharp upward move.
📅 Daily Time Frame
On the daily chart, HNT has outperformed other altcoins during its recovery and is currently testing a daily resistance level. A breakout here could trigger a sharp upward move.
Volume analysis shows reduced activity during the correction phase and increased volume during upward movements, confirming buyer strength in the market.
After breaking the trendline and finding support at 5.524, the coin moved upward. A potential buy entry lies at the breakout of 9.244. Follow this closely for spot or futures long positions, especially if RSI enters the overbought zone, which would provide excellent confirmation.
🔍 4-Hour Timeframe Analysis
HNT is currently facing a critical resistance at 9.393. Buyers have been active, attempting to break this level, which could lead to further bullish continuation after a successful breakout.
Before discussing triggers, let’s briefly cover the Fake Breakout strategy. This occurs when a support or resistance is initially broken but quickly reversed in the next candle, potentially signaling a trend change. Identifying this on lower timeframes can guide you to a solid entry after the first breakout.
📈 Long Position Trigger
breakout above 9.393 is a great trigger. Personally, I’ll be looking for a long entry above this level and will continue to hunt for long triggers as long as HNT stays above 8.004.
📉 Short Position Trigger
I’m not considering any short positions for now. If the market enters a bearish phase, I’ll look for lower long triggers instead.
💡 BTC Pair Insight
Against Bitcoin, HNT is in a ranging box with less volatility compared to BTC and hasn’t experienced severe drops like other altcoins. Its absence from Binance and limited volume data make it less prominent, but these factors have helped it avoid extreme sell-offs.
HNT has risen from a higher low within its range. With Bitcoin dominance closing green on the weekly chart, HNT’s weekly candle also closing green is a positive sign. After breaking the box’s upper boundary, I’ll consider holding it longer.
