Helium's price faces critical support and resistance levels, shaping its short-term dynamics amid current market uncertainty.
Key Support and Resistance Levels
The price of Helium started at $3.7372, hitting a high of $3.8132 before closing at $3.5626, down 4.67%. Key resistance at $5.5000 has often halted upward moves. Support lies near $3.1000, where buyers have previously stepped in. Holding this could lead to recovery toward $3.9000, but a fall below may test $2.5000.
Technical Indicators and Price Action
The overall trend remains bearish, with lower highs and lows forming. The TD Sequential indicator flashed a '9' signal, suggesting possible sell pressure exhaustion. Historically, this can precede relief rallies. Falling volatility after a sharp drop from $9.5000 indicates an uncertain period ahead.
Market Sentiment and Outlook
Despite the bearish trend, market structure suggests a crucial decision point near $3.1000. Breaking resistance could shift momentum to bulls. Failure to maintain support may cause prolonged selling, while historical price patterns suggest consolidation often precedes sharp moves.
Currently, Helium stands at a crossroads where key levels and market dynamics will determine its next steps. The key factor will be its ability to hold support or break resistance.
