Home
News
- Wall street investor Bill Ackman has recently tweeted a great good deal about Helium Network.
- HNT price is seeing a slow downtrend which can push it to a new low in the future. HNT/BTC pair has seen a decline of over 3% in the intraday session.
Helium is a decentralized network for IOT devices. The mainent of the protocol was launched in 2019 and it helps low powered IOT devices to communicate with each other and send data through nodes. Helium aims to improve the communication capability of IOT devices. Meanwhile in a twitter thread the legendary investor Bill Ackman has said that he loves Helium network.In September, the Helium community voted to replace its original blockchain with Solana, and promised to integrate with SOL phone which can come out in 2023. Helium has also been accused for using fraudulent endorsements from tech giants.
Helium is currently ranked 97th in the crypto verse and has seen a strong slide down. The volume of the digital asset price has also seen an increase of over 20%. Volume to market cap ratio of the HNT coin suggests a downside trend in price.
Bulls Of HNT Coin Are In Hibernation
The weekly technical chart of HNT suggests a consolidated trend in price. On coming to the daily chart the asset price has seen a decline of over 3.79% and is trading near the value of $2.07. The upside trend can see a halt near the value of $2.5. Meanwhile one can expect a bounceback from $1.8. The asset price is currently trading below the 50 and 100 DMA with an upcoming negative crossover. It can push the price down to a new low.
RSI of the HNT coin price is currently near 31 with no slope. The overall sentiment of the RSI is neutral.
Conclusion
Helium protocol has recently been praised by Bill Ackman. Helium has also been accused of fraudulent endorsements. HNT coin price is currently in a downside trend and can see a new low in the future.
Technical Levels
Major Support:$1.8
Major Resistance:$2.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
