menuIcon
$ 83,122.6
BTC
$ 83,122.6
-1.04 %
$ 1,842.28
ETH
$ 1,842.28
-2.41 %
$ 0.6821
ADA
$ 0.6821
-1.80 %
$ 612.11
BNB
$ 612.11
0.86 %
$ 126.31
SOL
$ 126.31
-1.13 %
Vikram
Apr 1, 2022
by Vikram

HNT Technical Analysis: Can Buyers Overtake Control of 200-day EMA?

HNT
HNT coin price experiences a surge in selling pressure from the utmost resistance of the falling wedge pattern. Will buyers regain the selling pressure?

Key technical points:

  • HNT prices fall 4.77% with the rejection near the resistance trendline.

  • Next, the altcoin prices face extreme selling pressure at the 50-day EMA.

  • Finally, the 24-hour trading volume of Helium is $61.69 Million, marking a 50% fall.

    • Past Performance of HNT

    HNT coin price suits a surge in buying pressure from the descending support trendline on 14th March. The recovery rally homes the market price by 26% in two weeks. However, the rally fails to surpass the resistance trendline resulting in a 7% decline in the last 24 hours. Moreover, the falling trend creates a descending wedge pattern in the daily chart.

    TradingView Chart

    HNT Technical Analysis 

    HNT coin price shows a higher price rejection from the resistance trendline resulting in a bearish engulfing candlestick. Moreover, the retracement challenges the $22.5 support level as the selling pressure grows. 

    The crucial daily EMAs (50, 100, and 200-days) might shortly achieve a bearish alignment with the 100 and 200-day EMAs bearish crossover. Moreover, the 50-day EMA continues to provide dynamic resistance.

    RSI Indicator: The RSI slope test falls under the halfway mark and enters the nearly oversold territory. Moreover, the slope breaks below the 14-days average mark.

    MACD Indicator: The MACD and signal lines give a bearish crossover and end the Bullish histogram trend. Hence, the indicator provides a selling signal.

    In a nutshell, the HNT technical analysis emphasizes the selling opportunity with the $22.5 breakout.

    Upcoming Trend 

    The HNT coin price must break below the $22.5 mark for a bearish continuation to the $20 mark. However, a reversal from the $22.5 mark will result in a retest of the resistance trendline. 

    Support Levels: $22.5 and $20

    Resistance Levels: $24 and $26

    Follow us on: News
    Helium HNT
    HNT Technical Analysis: Can Buyers Overtake Control of 200-day EMA?
    Vikram
    Vikram is a technical analyst with several years of experience in the crypto market & Indian Equity and F&O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

    Top Picks