- HNT price has been in a strong bearish phase for almost 6 months.
- Reduced by more than 45% after the FTX crash.
- The project is being deserted by HNT holders.
The IoT-based Helium network, which came out with an invigorating protocol of decentralized hotspots and network connection, is now facing a drought of holders and that is well reflected in its native token, HNT. It has consistently been in the bearish momentum for the past 6 months and has fallen by more than 80% since the LUNA crash. The token has also dropped by more than 45% since the FTX meltdown. This reflected the heavy impact of major fiascos this year and how turbulent the shockwaves were.
The Chart Session
The price forms a sharply falling parallel channel with all crucial EMAs floating above the price trail. The trading volume is next to non-existent, and the price action has been caught up in the consolidation cycle. The OBV also forms a falling trend, indicating that distribution may occur. It may be the red flag for holders as it hints toward the downtrend breakout.
The price is expected to fall further to the half line in the parallel channel and touch the price level of $0.80. The CMF indicator functions far below the baseline and slopes down, indicating a downtrend in HNT token price. The MACD converges and performs under the zero-histogram mark. It may hold as neutral before the down trail. The RSI has not managed to cross the 60 mark for the past 6 months and currently functions in the lowermost range before becoming oversold.
The closer view
The price in the smaller time frame also keeps consolidating and slightly dribbles before falling. The CMF indicator subtly rises as HNT price bounced a little to drop with greater force. The MACD coincides with the base mark and awaits the bearish divergence with greater momentum. The RSI indicator consistently performs below the average mark and shows active seller participation in the HNT базар.
жыйынтыктоо
The Helium network’s indigenous token HNT is currently in a drought phase where the holders are shedding the token, and this behavior has been consistent for a long time. The current scenario is the opposite of what the crypto space witnessed 6 months ago, where the гелий project was the talk of the town and was crowned by the investors. The reason for the loss of interest is unknown but very intriguing.
Техникалык деңгээлдер
Колдоо деңгээли: $ 1.95 жана $ 0.80
Каршылык деңгээли: $9.40 жана 11.54
баш тартуу
Автордун же бул макалада аты аталган адамдардын көз караштары жана пикирлери маалыматтык идеялар үчүн гана болуп саналат жана алар финансылык, инвестициялык же башка кеңештерди түзбөйт. Крипто активдерин инвестициялоо же соодалоо каржылык жоготуу коркунучу менен коштолот.
Source: https://www.thecoinrepublic.com/2022/12/09/helium-rises-as-an-element-but-falls-as-a-coin-hnt-to-drop-further/