The Helium crypto (HNT) price has been in a bearish territory recently, displaying signs of bearishness over the past sessions. It is struggling to maintain gains above key moving averages and has fallen by over 19% in the current month, indicating a bearish trend.

Currently, the price of Helium crypto (HNT) stands at $4.841, with a 1.06% intraday loss, showing bearish signals on the charts. It has a negative monthly return of 19% and a yearly return of 29%. The market cap for HNT is $778,089,906 Million, and indicators suggest that the price will decrease in the coming sessions.

According to the technical summary on TradingView, out of 26 indicators, 13 are on the sell side, 10 are neutral, and 3 are on the buy side, indicating a negative outlook for the HNT crypto price.

Bears Are Taking Control Of The Momentum

The bullish trend of HNT price that began in October 2023 saw a 650% increase until March, after which it faced resistance near the $10 mark and turned bearish.

The price chart structure for Helium crypto shows a bearish trend with pullbacks since March, leading to a 60% decline by mid-April, as most investors opted to take profits.

Although the HNT price briefly exceeded the 200-day EMA recently, it could not sustain this level, triggering a negative pullback and signaling a bearish trend.

If profit booking continues, the price is likely to drop further, and a bounce back above the 200-day EMA could attract buyers and lead to bullish momentum, potentially reversing the trend.

Helium Crypto Social Dominance vs Social Volume Analysis

The decreased activity on social media platforms like X, Instagram, and Telegram has reflected in the social dominance and social volume graphs, contributing to the negative impact on the Helium crypto price.

The future price momentum of Helium crypto may depend on social dominance and social volume, with potential resistance levels at $6.140 and $7.722, and support levels at $3.384 and $3.00.

Summary

The HNT crypto price experienced a bullish trend followed by a 60% decline triggered by a negative pullback. If the price sustains above the 200-day EMA, it could see a bullish momentum, while reduced social media interaction has negatively affected the price.

Disclaimer

This article is for informational purposes only and does not offer any financial or investment advice. The author and individuals mentioned do not take responsibility for any financial losses arising from investing or trading. Conduct your research before making financial decisions.