Helium Rockets Out of Downtrend: Bullish Momentum Takes Charge!

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This 6-hour candlestick chart for Helium Mobile (HNT) against the USD on Coinbase. Here’s my detailed technical analysis based on the chart:

Trend Analysis
- Downtrend Channel: The price has been in a downtrend channel from late April to mid-May, indicated by the parallel trendlines sloping downwards. This downtrend has seen lower highs and lower lows.
- Breakout: Recently, there is a clear breakout from the downtrend channel as the price surged above the upper trendline, suggesting a potential reversal or at least a strong bullish move.

Support Levels:

• Primary Support: Around 0.001759 USD, where the price has bounced multiple times, indicating strong buying interest.
  
• Secondary Support: Around 0.002044 USD, where the price has consolidated before breaking out.

Resistance Levels:

• Immediate Resistance Area: Around 0.002512 USD, which is a recent high and could pose some resistance.
  
• Upper Resistance: Around 0.003102 USD, a significant resistance level which is a previous high and psychological level.
  

Candlestick Patterns
Bullish Engulfing Pattern: Near the end of the downtrend channel, there's a bullish engulfing pattern, indicating a potential reversal. This pattern is followed by a strong upward movement, confirming the reversal signal.
Bullish Candles: The recent large bullish candles indicate strong buying pressure.
Technical Indicators

Stochastic RSI:
The Stochastic RSI is in the overbought zone (98.61), suggesting that the price may be due for a short-term pullback or consolidation.

Volume:
There is a significant increase in volume accompanying the breakout, which validates the strength of the upward move. A high volume on a breakout generally confirms that the breakout is genuine and not a false signal.