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- 1 HNT coin price chart reflects lower low swings. It may retest the $5 mark soon.
- 2 Helium price has reverted the gains and is riding on a bearish track.
The Helium coin (HNT) has breached the upward trendline and slipped below the key moving averages signifying the selloff last week. The price action shows the lower low formation and that sellers are willing to push HNT coin toward the $5 mark. Moreover, the coin price may continue to lose the gains and will extend the correction ahead. Amidst the bull run in the crypto market, the HNT coin did not participate in the rally and showed adverse reaction with a 30%+ loss of gains this month.
At press time, the Helium coin (HNT) price was trading at $6.59 with an intraday gain of 0.40%, reflecting neutrality on the charts. It has a monthly return ratio of -23.90% and -38.20% on a yearly basis. The pair of HNT/BTC is at 0.000100 BTC, and the market cap is $644.20 Million. Analysts are neutral and suggest the HNT coin may continue to retrace gains and may retest the demand zone of $5 soon.
Helium Coin Price To Volume Profile Showcasing Profit Booking
The above data shows the price to volume profile of the Helium coin which revealed a decline in the recent sessions. Amidst the up move in the crypto market, the HNT coin did not contribute their gains and remained in sellers’ control, leading to a decline of over 30% this month. However, the trading volume noted a drop of over 33.09% to $6.49 Million, signifying a negative outlook.
Price Volatility and Sentiment Showcased Neutrality
Since the beginning of this month, sellers were in the limelight and persisted in adding short positions which led to a price decline. This activity led to a decline in the volatility value of over 80% to 0.017, whereas the weighted sentiment reverted from a positive mark of 0.055 to -0.317, revealing an adverse outlook.
Social Dominance And Twitter Followers Outlook
Despite the price decline, the social dominance data remained average and instead of a decline, a notable surge of over 3.89% to 0.198% was noted. Similarly, the X followers remained consistent near 71. However, the active users on Telegram noted a sharp drop from 190% to 2296.
The RSI curve fell in the oversold region and noted a negative divergence on the charts, whereas the MACD indicator shows a bearish crossover and red bars on the histogram highlighting underperformance for the upcoming sessions.
Per the Fib retracement levels, the HNT coin has slipped below the 38.2% zone and is heading toward the 23.6% zone. The total supply of the Helium coin is 97.70 million and the volume to market cap ratio is 0.0102.
Summary
The HNT coin price has slipped below the 200-Day EMA mark and is demonstrating a bearish trend on the charts. Moreover, the coin may face further selloff ahead and may retest the demand zone of $5 soon.
Technical Levels
Support Levels: $6.20 and $6
Resistance Levels: $7 and $7.20
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
