HNT tests KEY resistance: will Helium break to $1.16?
Helium’s token HNT has posted sharp double-digit gains for the first time in months, and traders are watching a possible continuation move. Technicals are improving: MACD is approaching a potential golden cross, while RSI is rising but has not yet cleared 50. A sustained break above 50 would strengthen the case for HNT’s recovery.
Derivatives activity also leans bullish. Open interest (OI) in HNT perpetual futures rose about 10% to roughly $2.3M, the highest level since late April, suggesting capital is returning. Funding rate turned positive at 0.0144%, indicating long positions are paying a premium—often a sign of bullish pressure in futures markets.
Structurally, HNT is still inside a broader descending channel that began in 2025, with more recent price action forming a narrower downward channel. The article notes a rebound from a demand zone, but a decisive upside move requires a breakout above the channel resistance line.
If HNT clears that resistance, upside targets highlighted are $1.16, then $1.34, and $1.67. Traders should be alert to rejection at resistance, which would weaken the bullish momentum signal and likely stall the rally.
Bullish
The article frames HNT as bullish but conditional. Short-term momentum is improving: MACD is nearing a golden cross and RSI is rising, while futures positioning supports the move. Open interest up ~10% and a positive funding rate (0.0144%) typically signal that new longs are arriving and are willing to pay for exposure—often a setup for continuation.
However, the key risk is technical resistance. HNT remains inside a descending channel (from 2025) and must break above the channel’s resistance line. This resembles past “breakout then retest” behavior seen in many altcoins: traders often chase the first push, but if price stalls at resistance, the market can quickly mean-revert and unwind longs.
Short-term implication: watch for confirmation if HNT holds above RSI 50 and clears the channel resistance—this would increase the odds of reaching the $1.16 target and potentially the higher levels. If HNT rejects, the bullish derivatives signals could fade, leading to consolidation or a pullback.
Long-term implication: a sustained breakout from the descending structure would be a more durable trend change; until then, rallies may be treated as within-channel opportunities rather than a fully new uptrend.