The helium token is growing more popular among crypto traders and holders.
HNT might token may continue to fall if we fail to break $30.
HNT has been forming lower lows and lower highs since November 2021.
The explanation for this is the mining process provided by the corporation. Currently, Helium pullbacks point to a frightening potential decline.
Helium Network is a decentralized wireless connection that allows devices to access the Internet securely from anywhere globally. Developers can design low-power, Internet-connected devices at a lower cost and quicker rate because of its robust open-source architecture.
The downturn began once the price hit the last objective of $42 – $50 and bears came strongly to push prices more than -65% since November. This adjustment may have come to an end as recently as last week after the value of helium found a strong support at the Pivot level S2 and also the $20 key level.
Source – TradingView
Consequently, the price may be aiming for higher prices in the foreseeable future, as it has done this week. But there is one stumbling block in the road of the Helium pricing.
Helium price falls through the trend line
In mid-2021, the helium price established a trend line, causing prices to climb. This trend line was breached after the most recent cryptocurrency meltdown. Consequently, the price may begin to fall short.
We foresee a drop down to the next key zone if we don’t reclaim the trend line this week. This band of support is located between $9 and $11.75. This may be an ideal purchasing moment if you want to engage in the helium program.
HNT definite uptrend break, particularly on the one-week chart. Helium investors should liquidate their tokens or at least a portion to get Helium at a lower cost, particularly in the B region of the ABC cycle at the 61.8%- 78.6% fibonacci retracement level.
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