Altcoins Outperform Top 200 Cryptocurrencies
Altcoins like Official Trump (TRUMP), Helium (HNT), and Hedera (HBAR) have outperformed the top 200 cryptocurrencies in the last 24 hours. Technical analysis shows that TRUMP and HNT might break out of their falling channels. HBAR is set to continue gains after a W-shaped reversal. Helium mobile signups have reached 500,000. The Canary HBAR Exchange Traded Fund (ETF) will start trading on Wednesday.
Official Trump Token Poised for Channel Breakout Rally
The Official Trump token fell by more than 1% on Tuesday after rising 13% on Monday. TRUMP faces resistance at its 50-day Exponential Moving Average (EMA) near $7.11. A strong close above this level could target the falling channel’s resistance line at $7.93.
If the breakout happens, the next target is the R1 Pivot Point at $8.37. The Moving Average Convergence Divergence (MACD) is rising, suggesting more buying pressure. The Relative Strength Index (RSI) stands at 56, showing room for further gains.
The main support level for TRUMP is at $6.32, marked by the S1 Pivot Point.
Helium Gains as DePIN Hits 500,000 Signups
Helium trades above $2.25 after gaining 7.66% the day before. Like TRUMP, HNT faces resistance at its 50-day EMA near $2.29 in a falling channel. If it breaks above, it could reach $2.40 and then $2.78, last tested on October 9.
Helium’s mobile signups have reached 500,000, showing steady adoption of this decentralized physical network (DePIN). The MACD is moving up, signaling higher buying interest. The RSI is at 54, also indicating growing demand.
Key support for Helium is near the $2.00 psychological level.
Hedera Set for More Gains After Canary ETF Approval
Hedera (HBAR) has risen for five days straight following the approval of the Canary HBAR ETF. The ETF starts trading on Wednesday. HBAR gained 5% on Sunday and 2.69% on Monday.
HBAR is approaching resistance at $0.1955 from October 13. A close above this could push the token toward $0.2170, defined by trendline resistance from July 27 and September 18 highs.
The MACD recently crossed above its signal line, showing a bullish trend. The RSI at 53 supports a gradual increase in demand. Support lies near $0.16 from the October 11 low.
