cryptoworld

07/20 16:20

Helium’s 10% rally under threat: Will HNT see a 35

Helium’s 10% rally under threat: Will HNT see a 35% drop next?

HNT gains at risk of being wiped out in a few trading days.

HNT has recorded notable gains recently, but supply zone ahead could be the end of it. Mounting selling pressure from the spot market and weakening momentum now threaten a sharp reversal.

Helium [HNT] surged by 10% over the past 24 hours, leading the crypto market during this period. However, exchange outflows and bearish indicators suggest that HNT’s rally may be short-lived.

According to AMBCrypto analysis, while HNT remains bullish on the surface, signs of weakening market structure and liquidity drainage indicate a likely pullback. Here’s what to watch.

A review of the 1-day chart showed HNT approaching a critical supply zone between $3.90 and $4.24. This area has historically triggered significant sell-offs.

On the 23rd of February, a test of this range resulted in a 42% drop. The second instance, on the 13th of April, led to a 17% decline over just three days. Most recently, a retest on the 28th of May saw HNT fall by 46%.

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