HNT Technical Analysis: Bullish Twilight Hints At The $7.5 Fallout

HNT price action shows a bullish failure to rise above the 50-day EMA resulting in a retracement to $7.5. Should you expect a fall below $7.5? Key technical points: HNT prices take dynamic resistance from the 50 EMA. The Stochastic RSI shows a bull cycle in motion. The 24-hour trading volume of Helium is $18.87 Million, reflecting a 30% drop. Past Performance of HNT HNT prices spiraled down drastically under the resistance trendline influence starting from 10th May, accounting for a 40% downfall. This dramatic fall reached the depth of $7.50 on May 12th, after which the buyers have been struggling to pass over the resistance trendline. However, the lower low formations lead to a descending support trendline formation despite the bullish failure. Source-Tradingview HNT Technical Analysis HNT price action shows a falling channel pattern in the 4-hour chart, and the ongoing bear cycle results in a reversal to the $7.50 support level. Furthermore, the increase in selling pressure hints at the support level breakout, teasing a downfall to the $6.25 mark. The RSI slope shows a sideways trend below the halfway line, increasing bearish influence and teasing a potential 14-day SMA breakout. Hence, the breakout chances of $7.5 increase. The K and D lines of the Stochastic RSI show a merged sideways trend below the overbought boundary in the 4-hour chart. Hence, the displays an underlying eagerness to start the bear cycle. In short, the ...