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Helium Price Analysis: HNT Continued to Rally Bearishly Towards the Lower Range, Wait for Bulls to Sustain!

Helium Price Analysis: HNT Continued to Rally Bearishly Towards the Lower Range, Wait for Bulls to Sustain!

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  • Helium price is currently trading in a strong downtrend towards the lower price range of the horizontal range on the daily chart.
  • HNT crypto has dropped below the 20, 50, 100 and 200 day daily moving averages.
  • The HNT/BTC pair is at 0.0002062 BTC and the intraday profit is 1.45%.

During intraday trading, the price of helium is under heavy selling pressure and is currently trading at a significant downward speed. To break out of the range it has been trading in since August 2022, HNT coin will need to attract more buyers. Buyers need to swell in order for the HNT coin price to move the token above the daily chart. After consolidating for a while, HNT initially fell through the descending parallel channel and locked in the descending triangle. The brand was then dropped from the model and has been struggling to gain support ever since. HNT investors should wait until the HNT coin price moves out of the $5.75-$3.35 range.

Helium is currently trading at $4.06 on CMP, up 0.17% since yesterday. The volume of transactions decreased by 22.16% during intraday trading. It illustrates the bears attempts to count the mark from its highest distance. The volume to market cap ratio is 0.02903.

To stay in the higher range of the consolidation phase, the HNT coin price needs support from the bulls. In short, selling pressure may start to increase as the token approaches the top level of the consolidation phase. In order for HNT to enter a consolidation phase, the volume change needs to rise as it is currently below the average.

Will HNT bounce back from the lower range?

In the daily price chart, the price of HNT coins is clearly in a downward direction. Technical indicators show the rate of decline of HNT coin. The relative strength index describes the downward movement of the HNT coin. At 37, RSI is becoming oversold. The MACD shows that the HNT currency has a bearish momentum. The MACD line and the signal line are set to undergo a negative crossover. Before the HNT token can be saved, investors must wait until the bulls have formed.

Conclusion

During intraday trading, the price of helium is under heavy selling pressure and is currently trading at a significant downward speed. To break out of the range it has been trading in since August 2022, HNT coin will need to attract more buyers. Buyers need to swell in order for the HNT coin price to move the token above the daily chart. After consolidating for a while, HNT initially fell through the descending parallel channel and locked in the descending triangle. The brand was then dropped from the model and has been struggling to gain support ever since. In order for HNT to enter a consolidation phase, the volume change needs to rise as it is currently below the average. A negative split is taking place between the MACD line and the signal line. HNT investors must wait until the bull has accumulated before the token can be saved.

Technical levels

Support level: $3.70 and $3.40

Resistance level: $5.00 and $5.65

Disclaimer

The views and opinions expressed by the author or any people named in this article are for information only and do not constitute financial, investment or other advice. Investing or trading in crypto-assets involves the risk of financial losses.

Latest posts by Ritika Sharma (Show all)

Source: https://www.thecoinrepublic.com/2022/09/17/helium-price-analysis-hnt-continued-to-rally-bearishly-towards-the-lower-range-wait-for-bulls-to- maintain/

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