HNT Technical Analysis: Overnight Downfall Breaks Bullish Dreams 

Key technical points:

Past Performance of HNT

HNT coin price trades at $24.52 with a downfall of 10% in the past 24 hours resulting in the fallout of $25 horizontal level. Moreover, in the past week, the downfall accounts for more than 20% resulting in a breakout of the 200-day EMA. The fallout of multiple support levels in such a short time indicates an increase in bearish momentum. 

Source-Tradingview

HNT Technical Analysis 

The failure to sustain above the $30 mark initiates the downtrend resulting in the multiple bearish candles in the daily chart. Hence, HNT traders expect the downfall to reach the $22.5 support level as the trend gains momentum.

The Helium coin exchanges hand at a price below the 200-day EMA, reflecting a bearish trend reversal. Moreover, the bearish crossover of the 50 and 100-day EMA suggests a bearish continuation. 

The MACD indicator shows the MACD and signal lines failing to approach the zero line mark as it falls to give a bearish crossover. Hence, the indicator reflects the possibility of a downfall to reach the $20 mark.

The Volatility Indicator shows a bearish crossover of the VI lines in the HNT/USD daily chart, indicating a trend reversal. Hence, the indicator supports the idea of bearish continuation. 

In short, the technical indicators project the possibility of HNT prices reaching the low of $20 shortly. 

Upcoming Trend

The sudden reversal of the trend of the HNT coin price and the increasing selling pressure evident by the jump in trading volume shows highly influential bearish powers in action. Therefore, traders can find a selling opportunity with the daily candle closing below the $25 mark.