HEI Rises 4.65% on 29.68% Volume Surge as Bulls Target $0.3906 Breakout

HEI continues to show strength as the price rises 4.65% to $0.3798, supported by a 29.68% surge in 24-hour trading volume to $11.3 million[1]. The token remains above the key 9-period exponential moving average (EMA) at $0.3696 and is nearing the 50-period simple moving average (SMA) resistance of $0.3906, a level that analysts suggest could be a pivotal turning point for the short-term trajectory[1]. The price has rebounded from intraday lows of around $0.3400, indicating strong buying interest near support levels.

On the 4-hour candlestick chart, HEI has been trading in a defined price range between $0.3450 and $0.4400. The recent bounce off the lower end of this range suggests that buyers are stepping in at critical support, maintaining the asset’s upward momentum. If HEI manages to break above $0.3906 with significant volume, it could signal a retest of the $0.4400 resistance zone[1]. Technical indicators such as RSI and MACD are showing mixed signals, with RSI at 44.32 and MACD at -0.2723, but the narrowing gap between MACD and its signal line hints at a potential shift in momentum[1].

Bullish sentiment in the community remains robust, with 79% of 12,500 survey respondents expressing optimism about HEI’s future. This confidence is reflected in the project’s increased market engagement and a current market capitalization of $29.03 million[1]. The circulating supply of HEI is also well-balanced, with 96.61 million tokens in circulation and 76.42 million in total. Should the buying pressure persist and the price close above $0.3906, the next target for HEI could be the upper boundary of the trading range at $0.4400. However, traders are also watching the support level at $0.3690, which, if breached, could push the price back down to $0.3450[1].

Market participants are closely monitoring HEI’s behavior around these key levels, as any breakout or breakdown could signal a broader shift in the token’s trend. The combination of strong community sentiment, increased trading volume, and favorable technical setups suggests that HEI is in a consolidation phase with a potential for further gains, provided that the critical resistance level at $0.3906 is effectively tested and held[1].

Source: [1] HEI Maintains Uptrend with Bullish Community Sentiment and Technical Support (https://coinmarketcap.com/community/articles/688c2eb083e7604329dcbf55/)