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- 1 HNT price witnessed intense selling pressure and has breached the $5 mark.
- 2 The intraday trading volume dropped over 43.90% to $12.83 Million.
The HNT price showcased massive bearishness and intense sellers have gained momentum in the last sessions. Moreover, the trend is negative and follow on selling pressure was noted on the charts. The price action reflects lower low swings and the token
At press time, the Helium token (HNT) price traded at $4.12 with an intraday drop of 5.22%, reflecting bearishness on the charts. It has a monthly return ratio of -41.20% and 120.87% on a yearly basis. The pair of HNT/BTC is at 0.0000673 BTC, and the market cap is $403.70 Million. Analysts are bearish and suggest that the HNT token may continue to extend the selloff and will continue to underperform ahead.
HNT Price Volume Profile On Daily Charts
The daily chart shows that the Helium crypto trades in a sharp downtrend, and lower low swings were noted on the charts. Moreover, the price action replicates the follow-on selling momentum, and the bulls are in trouble and are unwinding their long positions. Furthermore, sellers succeeded in breaching the demand zone of $5 and a bearish crossover was displayed. The intraday trading volume dropped over 13.29% to $13.45 Million.
Price Volatility & Weighted Sentiment Outlook
Amidst the price drop, the token displayed a minimal spike in the volatility curve and remained near the midline. The price volatility curve noted a decrease of over 54.90% to 0.022. However, the weighted sentiment looks neutral and stayed near the midline around 0.118.
Social Dominance and “X” Followers Overview
The social dominance data noted a sharp fall of over 59.40% to 0.022%, amid a decrease in the discussion reports. Similarly, the X follower’s data replicated a stable move and sustained near the midline around 178.
Total Open Interest & RSI, MACD Insights
The chart shows the long unwinding data, and the open interest sharply fell over 5.79% to $2.42 Million in the last 24 hrs. Similarly, the RSI curve stayed in the oversold region near 38, and a negative crossover was noted on the charts. Additionally, the MACD indicator signifies a bearish crossover and formed red bars on the histogram.
Per the Fib levels, the Helium price has slipped below the 23.6% zone and is trading in the bearish trajectory. The price action highlights no buying activity and sellers are persisted in adding short positions.
The total supply of the Helium token is 97.70 Million, whereas the volume-to-market cap ratio is 0.0321, and it is ranked 159 in terms of market cap in the global crypto market.
Summary
The HNT price signifies bearish momentum and persists in eroding gains, directing the seller dominance. Moreover, the trend is bearish and the technicals suggest that the token may continue to drag gains toward the downside region of $4 shortly.
Technical Levels
Support Levels: $4.0 and $3.70
Resistance Levels: $4.70 and $5.30
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.
