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- HNT price has triggered a pullback after taking support on the 20-day exponential moving average.
- The IMX price has been struggling between the 20-day and 200-day EMA.
Helium and Immutable are this week’s top crypto gainers. However, the cryptocurrency market has remained bearish, as the BTC price has lost around 9.40%. Despite the negative sentiment of the cryptocurrency market, these coins have remained positive.
The technical chart showed Helium (HNT) has almost recovered its losses this year. The price took support on the 200-day EMA at the beginning of this month and rose by 60%.
This bullish momentum was interrupted near the $8 mark and is trying again to overcome this level.
The chart structure suggested that the bullish trend in Immutable (IMX) crypto has interrupted near the $3.50 hurdle. The price has attempted to overcome this mark twice but failed.
Since March, the IMX crypto price has witnessed selling pressure. It has declined in lower lows and lower highs format.
HNT Price Technical Analysis Over 1-D Timeframe
The Helium crypto was being traded at $7.15 at the time of writing. It has declined by 1.54% in the past 24 hours. The market capitalization was $1.14 Billion, and the 24-hour trading volume was $24.95 Million.
The bearish trend was halted near the $3 mark in the first week of July, and recovery was witnessed. Since July, the price has risen by forming higher highs and higher lows. The HNT crypto price has reached the $8 mark and triggered a pullback.
Buying momentum can be anticipated if the digital asset price exceeds the $8 mark. Assuming the buyers show their involvement in a good number, the price may easily extend to the $10 hurdle.
According to the technical indicators, the RSI has generated a bullish crossover with the RSI-based moving average. The key moving averages have developed a golden crossover. Moreover, the price has been rising by taking support on the 20-day EMA.
Could the IMX Price Smash the $4 Mark in September?
At press time, the Immutable crypto was being traded at $1.46. It has advanced by 2.34% in an intraday session. The market capitalization was $2.29 Billion, and the 24-hour trading volume was $51.81 Million.
The IMX price has formed a falling wedge pattern on a daily time frame and has triggered a breakout. After the breakout, the price has surpassed the 20-day EMA and is heading toward the 200-day EMA.
Strong buying momentum can be seen assuming the price starts trading over the 200-day EMA. The buyers may eye the $4 mark.
Based on the technical chart, buyers have dominated. Also, the trend of lower lows and lower highs has been interrupted. The momentum seems to have shifted to the buyers’ hands, and buying momentum can be awaited.
In contrast, suppose the digital asset price faces resistance from the 200-day EMA and slips below the 20-day EMA. It would be a bearish sign. The price below the $1 mark might be considered a fake breakout, which may lead to strong selling pressure.
This week’s top crypto gainers are HNT and IMX, which have performed positively in the bearish market. The HNT price has remained bullish throughout August and has gained 60%.
The IMX price has developed a breakout from the falling wedge pattern. It has surpassed the 20-day EMA and is eyeing for the 200-day EMA.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
