After surging 100% in the first half of November, the Helium Price dropped 34% in the second half, leaving all to play for in December.
Helium (HNT) is facing a precarious situation as the month begins. HNT tokens are currently trading at $39.250 (-0.20%), perched on a significant support level, which may become the determining factor in their demise. At the start of last month, Helium investors were well rewarded with a record price of $59.277 and a valuation of $5.6 billion like IoTeX, a rival internet of things platform. Over the past few weeks, the price has slid lower, wiping out over $1.2b in market capitalization. Helium risks giving back all of November’s gains unless it reverses its course in the next few days.
Price Estimation HNT Coin
The daily chart shows the Helium price is testing the $39.000 horizontal support level. Whilst the price has pierced the support several times in the last two weeks, as yet, it hasn’t closed the day beneath it. In my opinion, a close below $39.000 could attract stop-loss selling, targeting the 100-Day Moving Average at $27.744, around 30% below the current price.
However, if HNT respects support, it may turn higher towards trend resistance at $42.500. Furthermore, clearance of $42.500 dramatically improves the technical outlook, and in that event, a push towards $50.000 is likely.
Considering how much HNT increased last month, I’m veering towards the bearish scenario. However, I am on the fence until the daily candle confirms a breakdown. On that basis, today’s view is neutral, awaiting confirmation.
Helium (HNT) Daily Pricing Graph
Original Article can be found at //www.investingcube.com/helium-price-slides-30-from-the-all-time-high-is-another-30-possible-cryptocurrencies-helium/
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
