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Price of Helium Deflates To $14.30 After Four-Day Pump To $16.30

Cryptocurrency May 07, 2022 05:00AM ET
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© Reuters. Price of Helium Deflates To $14.30 After Four-Day Pump To $16.30

  • Helium’s (HNT) price has dipped slightly by 3.36% in the last 24 hours as the price now stands at $14.38.
  • The price of HNT is nearer to its 24 hour low than its 24 hour high with its 24 hour low standing at $14.24 and its 24 hour high at $14.93.
  • The 8 EMA is below the 20 EMA on the daily chart for HNT/USDT, which suggests that the price of HNT may drop further in the coming days unless the bulls fend off pressure from bears at this price level.

Helium’s (HNT) price has dipped slightly by 3.36% in the last 24 hours as the price now stands at $14.38, according to CoinMarketCap. Helium’s 24 price movement has also affected its weekly price movement, as HNT experienced a price drop of 2.86% in the last 7 days.

Ranked number 51 on CoinMarketCap’s list of the largest cryptocurrency projects by market cap, HNT’s market cap currently stands at $1,686,814,810. The daily trading volume of HNT has dropped substantially in the last day by 22.12%, taking the total 24 hour trading volume to $24,631,311.

The price of HNT is nearer to its 24 hour low than its 24 hour high with its 24 hour low standing at $14.24 and its 24 hour high at $14.93.

HNT’s price has also weakened against Bitcoin (BTC) and Ethereum (ETH), with its strength decreasing against the two cryptos by around 1.73% and 0.56% respectively at the time of writing. At the moment, HNT is worth approximately 0.0004016 BTC and 0.005392 ETH.

Price of HNT rises above 8 EMA briefly (Source:TradingView)

Looking at the daily chart for HNT/USDT, the price of HNT rose above the 8 EMA briefly but the 20 EMA acted as resistance – pushing the price below the 8 EMA again.

The relative positions of the 8,20 and 50 EMA indicate that HNT is in a medium-term bearish cycle given that the 20 EMA is currently below the 50 EMA. In addition, the 8 EMA is below the 20 EMA, which suggests that the price of HNT may drop further in the coming days unless the bulls fend off pressure from bears at this price level.

Continue reading on CoinQuora

Price of Helium Deflates To $14.30 After Four-Day Pump To $16.30
 

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