HBAR Price Has Shown Strong Upward Movement, Recently Reaching $0.19 and Nearing the Critical $0.20 Resistance Level.

Helium (CRYPTO: HNHUMAN -5.21%) price has been on a strong upward move in the past month, recently reaching $0.19 and nearing the critical $0.20 resistance.

What Happened: Helium’s rally is being fueled by a broader market shift, setting the stage for a potential breakout that could signal the end of its recent downtrend and a significant price recovery.

The Death Cross, which occurred on April 13 when the 200-day Exponential Moving Average (EMA) crossed below the 50-day EMA, had sparked some concern among traders.

However, recent price momentum suggests that this shift could be coming to an end sooner than anticipated. If the current bullish trend manages to continue, the market could reverse this bearish signal.

This reversal could be a key turning point for Helium. The potential end of the Death Cross would help restore confidence in the token and signal that it is prepared to move past its recent challenges.

In addition to technical indicators, Helium’s broader market sentiment is supported by positive funding rates. The funding rate has remained in the positive territory for the past three weeks, showcasing that long contracts are still holding a dominant position over short positions.

This pattern suggests that investors are optimistic about Helium’s future price movements, with many placing bets on further gains. The sustained demand for long contracts in the futures market signals a strong interest in the token.

What To Know: Helium is currently testing the $0.200 barrier, which it has failed to penetrate for nearly two months. Trading at $0.195, the altcoin is on the verge of a potential breakout.

Despite past attempts to cross this resistance being met with price pullbacks, the next few days will be crucial in determining the cryptocurrency’s trajectory.

With strong macroeconomic support, Helium could finally breach the $0.200 resistance and flip it into support. From there, the next target would be $0.222, confirming a breakout after two months of consolidation. This price move would validate the bullish thesis and set the stage for further gains.

However, if Helium fails to break through $0.200 again, it could face a decline back to $0.182 or even $0.167. A drop to these levels would erase recent gains and invalidate the bullish outlook. Investors will be closely watching the $0.200 level to gauge whether the momentum can sustain itself.