Crypto Price Prediction For December 12: HNT, AVAX, INJ


Crypto Price Prediction: On December 11th, the crypto witnessed a sudden sell-off as the leading cryptocurrency also reverted from $44500 higher. This reversal has turned the uncertainty of many major cryptocurrencies into a short pullback.

While the overall trend remains bullish, market investors can look for favorable dip opportunities in some of the top-performing coins in the last two weeks, like Helium(HNT), Avalanche(AVAX), Injective(INJ) as they are in a better position to bounce back.

Also Read: Bitcoin Whale Accumulation Rises Ahead Of US CPI Data

Helium Price Analysis: Safe Retracement Offer Dip Opportunity

Helium Price Analysis TradingView Chart
Helium Price Analysis| TradingView Chart

The Helium price has seen impressive growth since early November, soaring from $1.42 to a peak of $5.93 – a 317.5% increase. This surge is partly attributed to the formation of a cup and handle pattern and a general upturn in the Solana coin price, which benefits other protocols in the Solana Network. 

Helium’s recent introduction of a $20/month nationwide phone plan, offering an affordable, unrestricted mobile experience, further fueled its momentum. However, the HNT price faced a slight pullback from the $5.77 mark, a typical development in forming the handle of the cup and handle pattern. 

This dip is seen as an opportunity to gather more buyers before the next bullish leap. A breakout above the $5.7 neckline could mark a significant shift in market sentiment, potentially propelling Helium by up to 80%, aiming for a target of $10.4. 

The falling price could obtain suitable pullback support from the 20-day Exponential Moving Average slope.

Avalanche Price Analysis: High Momentum Rally Aims Beyond $50

Avalanche Price Analysis
Avalanche Price Analysis| TradingView Chart

Avalanche, ranking as the 9th largest cryptocurrency, has been recovering strongly since late October, climbing from $8.6 to $39 – a 352% increase in just two months. The growing interest in Avalanche (AVAX) can be attributed to its collaboration with established financial giants JPMorgan and Citi. 

These partnerships, part of the Avalanche Foundation’s initiatives to tokenize real-world assets, have significantly boosted AVAX’s profile. In a strategic effort to boost its network, Avalanche has made a substantial investment in its validators, dedicating more than $275 million in AVAX as rewards over the past year. 

This consistent growth, supported by rising volume and transaction numbers, suggests a sustainable trajectory for Avalanche price. With no significant sign of weakness, the Avalanche coin could continue its projection to reclaim higher grounds. 

If the price shows sustainable growth above the recently breached $37.38 mark. This post-breakout rally could surge the prices to the next resistance of $43.7 followed by $53.1

The upswing in the upper boundary of the Bollinger band indicator accentuates the buyers are dominating this asset.

Injective Price Analysis: Cup Handle Pattern Breakout Hints Rally to $50

Injective Price Analysis
Injective Price Analysis| TradingView Chart

Injective Protocol has been on an upward trend since early 2023, climbing from $1.25 to a current price of $26.4 – a 41% rally. The coin’s rise is linked to a rounding bottom pattern, indicating long-term buyer accumulation. 

Additionally, a surge in social media discussions about Injective, as reported by AlphaScan on December 11, has contributed to its popularity. Recently, INJ broke out from the $25.4 neckline of this pattern, signaling a potential trend reversal. 

If the price sustains above this level, we could see it approach the $50 mark. However, if it falls below the neckline, a fake breakout could trigger a sell-off and a minor pullback

The Average Directional index showcasing an uptick near 29% reflects the buyers have the potential to prolong this uptrend.

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Sahil Mahadik