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HNT Price Analysis: Looking Over Helium Price Patterns 

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  • The price of Helium (HNT) is trading near $1.272. The 24-hour trading volume was at $0.748930 Million.
  • The Helium (HNT) price is observing a rise of +1.55% in the last 24 hours.
  • The Helium (HNT) year-to-date return is -18.70%.

Helium (HNT) is a blockchain-based network for Internet of Things  (IoT) devices. It enables low-powered wireless devices to communicate and transmit data across its network of nodes called Hotspots. Hotspots also mine HNT tokens as rewards for providing network coverage and security. Helium aims to create a decentralized and low-cost IoT network that can support various applications and use cases.

Trend Analysis

By considering trend and price information history, it can be inferred that Helium (HNT) is in a downtrend. The price has declined -7.38% in the past seven days and due to this Helium (HNT) is floundering right now.

Helium(HNT) Trading Downwards

Technical Analysis (1D Timeframe)

Trend Analysis
Source:  HNT/USD.1D.CRYPTO by TradingView
Helium(HNT) Trading Downwards
Source: HNT/USD.1D.CRYPTO by TradingView

 Helium (HNT) Price Analysis

EMA 20 & 50: EMA is a type of moving average that places more weight on recent price data than a simple moving average (SMA). It reacts more quickly to price changes and can help identify trends and reversals. The Helium (HNT) price is currently below the 20 and 50 EMAs, which indicates that the price will decline in the future. If sellers continue to lower the price, it could drop further in a week.

EMA 100 & 200: The price of Helium (HNT) at present is trading below 100 and 200 EMA which suggests the price could fall shortly. If the sellers continue to push the price downwards, it could fall more in its value within a week.

MACD: Based on this chart, we can see that the Helium (HNT) coin is in a downtrend as the MACD line is below the signal line and both are negative and below the zero line. Therefore, it is indicating bearish momentum. The MACD line is at -0.05268 and the signal line is at -0.04315.

RSI: The RSI line is in a bearish zone. The 14 SMA has a value of 42.33 points and the RSI line is around 40.93. 

Stoch RSI: The Stochastic RSI fluctuates between 0 to 100. When the readings are below 20, it is considered oversold and those above 80 reflect overbought conditions. The current %d line is at 12.94 and the %k line is at 21.76. It is indicating that Helium (HNT) is slightly over the oversold zone.

Supertrend: It is a simple indicator constructed with the help of just two parameters; period and multiplier. At period value 20 and multiplier value 2, it shows signals of buy and sell. As shown in the chart, it’s bearish.

A possible technical analysis based on these indicators & trendline:

  • Based on these indicators, Helium (HNT) has been in a downtrend, making lower highs and lower lows. 
  • The MACD line is below the signal line and zero. The MACD indicator shows a bearish crossover of the MACD line and the signal line, indicating a possible continuation of the downward momentum.
  • The RSI indicator is hovering around the 40-50 level, suggesting a lack of clear direction as of now. 
  • The price is also below all EMAs, indicating strong resistance. The EMA’s indicate a bearish trend. The EMA’s (20, 50, 100, and 200) are all sloping downwards, confirming the bearish trend. The EMA-20 and EMA-50 are acting as a dynamic resistance.

Most of the indicators point to a bearish scenario for Helium (HNT). Helium(HNT) coin is trading at $1.272 as of the day of writing. The Helium(HNT) coin has been in a downtrend since reaching its all-time high of $55.17. The coin has recently come back near its previous all-time low of $1.11. To conclude, the Helium(HNT) coin is in a bearish trend and it needs a lot of interest from the buyers and sellers to break above resistance levels or to reverse the trend.

As per the trendline, it seems it’s respecting the trendline and it’s facing rejection exactly from the drawn trendline on the chart. From the point where it declined from the trendline, it’s been bearish but from the last couple of days. We can say, it’s taking support on the support zone. If it fails to sustain the price, it may reach the given nearest supports.  If the supports are breached, it can go downwards sooner. So, the price of Helium (HNT) can continue to fall. 

Conclusion

According to the analysis, the indicators are supporting the bears. If the price continues to move under the seller’s control, it is expected to fall shortly from the current levels. Presently, the sentiments of investors and traders are bearish regarding the price of Helium (HNT) in the 1D timeframe.

Technical Levels:

  • The Nearest Support Zone  – is $1.224 then $1.156
  • The Nearest Resistance Zone – is $1.444 then $1.512

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

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