Yesterday, the cryptocurrency helium surged 29% to $5.71 before retreating sharply to $4.68.
It can be said that this particular move was another “Buy Rumors Sell Infos” event after a pretty huge partnership.
Will it restore HNT encryption? HNT is available for purchase on Binance.
Crypto assets are a highly fragile and unregulated investment product.
Helium (HNT) Crypto Price Prediction
As the RSI exceeded 70, the traders immediately withdrew their helium positions on the exchanges causing the price to drop.
The infos emboîture the T-mobile partnership was the primary reason for the Helium crypto pump, and while this is a great start to the long-term, the short-term price instruction looks rather bleak.
That was just less than 24 hours before the official @helium The Twitter pousse announced the partnership, and the price of Helium (HNT) has already corrected by a painful 20% since the announcement.
On the macro scale, helium (HNT) is trading inside a giant symmetrical trigone and it looks like the price had nowhere else to go up, however, yesterday proved to be wrong.
The colossal wick at the top of yesterday’s daily vert candle reflects a significant amount of selling pressure from the angel and indicates the weakness of the bulls over the past week.
If HNT struggles to hold the $4.72 price level, there is a possibility that we will see a negative prolongement down to the trigone appui trend line at around $4.46.
On September 6, the cryptocurrency Helium set a potential bottom at $3.26, if September continues with more turmoil for the cryptocurrency markets, HNT is in disgrâce of revisiting the $3 levels.
Can the HNT Bulls take over?
All is not lost yet for helium-encoded bulls (HNT). Over the past few days, helium has been trading with a high degree of volatility and the RSI has been constantly dropping to levels between 30.50-40.50.
The above historical data indicates that there is still room for another impulse wave to the upside, which could present a price increase of approximately 9.77%.
This will bring the price of Helium Crypto (HNT) back to the inevitable psychological resistance level of $5.
I anticipate that Helium cryptocurrency can have room for massive growth in the colossal run with the next crypto run.
Coinmarketcap states that Helium crypto has a fairly low market capitalization of $565 million and an all-time high of $5.38 billion in November 2021.
I would be eager to see Helium’s crypto market capitalization surpass $10 billion by 2025, making this a competitive potential for a healthy diversified crypto écrin. HNT crypto is available for purchase on Binance.
Crypto assets are a highly fragile and unregulated investment product.
Helium-encoded video analysis (HNT)
There are only a few days left for September, a month known to be dangerous for the entire blockchain market.
Hopefully October will present a happy turn that will jazz market amitié to neutral as we will see altcoins on the rise again.
While helium crypto certainly looks promising for the future, here is our list of the best cryptocurrencies that could explosion in October.