Helium Crypto Price Prediction - Time to Buy HNT?
Yesterday the price of Helium crypto rocketed up by 29% to $5.71 before harshly correcting back down to $4.68.
It could be said that this particular move was another 'Buy the rumor sell the news' event following a very huge partnership.
Will HNT crypto recover? HNT is available to buy on Binance.
Cryptoassets are a highly volatile unregulated investment product.
As the relative strength index exceeded 70, traders promptly pulled out their Helium positions on exchanges causing the price to plummet.
News in relation to a T-mobile partnership was the core reason to the Helium crypto pump, whilst long-term this is a fantastic business initiation the short-term price action is looking rather gloomy.
It was just less than 24 hours ago the official @Helium Twitter page announced the partnership, and already the Helium (HNT) price has corrected by a painful 20% since the announcement.
On the macro-scale Helium (HNT) is trading within a giant symmetrical triangle and it seems the price had nowhere else to go up, however, yesterday proved that wrong.
The long wick at the top of yesterday's green daily candle reflects a large amount of selling pressure from holders and signifies that the bulls have weakened over the last week.
If HNT struggles to hold the $4.72 price level, there is a chance we might see negative continuation down to the support trendline of the triangle at around $4.46.
On the 6th of September Helium crypto set a possible bottom at $3.26, if September perseveres with more turmoil for the crypto markets HNT is at risk of revisiting the $3 levels.
All is not lost yet for the Helium (HNT) crypto bulls. Over the last few days Helium has traded with a lot of volatility and the relative strength index has been continuously
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