Price Analysis

Helium Price Sets A Revisit $3.2 Accumulation Zone; Buy Again?

The helium coin price struggling in uncertainty has stalled a potential downfall; should you keep holding?
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Helium Price Sets A Revisit $3.2 Accumulation Zone; Buy Again?

Amid the increasingly negative sentiment in the crypto market for high CPI data, the Helium coin price offset a bullish pattern. This development happened when the prices breached the rising support trendline, indicating the sellers possess trend control. A potential downfall could plunge the price to the $3.2 mark.

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Key points: 

  •  A Bearish breakdown from the support trendline suggests a revisit to the $3.2 support
  • The Helium coin price obtains constant resistance from 20-and-50-day EMAs
  • The intraday trading volume in the Helium coin is $27.2 Million, indicating a 26.5% loss.

Source- tradingview

The Helium coin price had promised a recovery rally over the past weeks resulting in a 78% jump from $3.2 to the bearish ceiling of $5.7. The price action also led to a supporting trendline building an ascending triangle in the daily chart. 

However, the downfall of 4.7% on 7th October led to the bearish fallout of the support trendline, nullifying the bullish pattern. Currently, the fallout rally displays a diagonal trend struggling to reach the $3.2 support level, highlighting increased demand at lower levels.

The daily candle shows intraday jump of 3.39% but struggles to surpass the 20-day EMA leading to higher price rejection. 

Therefore, the struggling bearish powers to find momentum for the fallout rally increases the possibility of a bullish turnaround. Thus, a bullish breakout of the opposing EMA will signal an early sign of trend reversal and may surge the altcoin to $5.7 resistance.

On a contrary note, a possible reversal from the trendline will highlight a retest entry and prolong the downfall to the $3.2 mark.

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Technical indicator

EMAs: the 20-and-50-day EMA has acted as excellent dynamics resistances during the ongoing downfall. Until these resistance EMAs are intact, the coin holders can expect an aggressive downfall.

MACD indicator: the MACD and signal line breakdown from the midline accentuates a negative among market participants. 

  • Resistance levels- $5.7 and $6.75
  • Support levels- $3.9 and $3.1
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Brian Bollinger

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian (at) coingape.com

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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