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Helium (HNT) Price Surges Despite Weak Momentum Indicators

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Helium (HNT) price has been on the rise despite the broader market downturn. What could be behind this? Although HNT is currently in an uptrend, several indicators suggest the strength of this trend may not be as solid as it seems.

The ADX reveals a weakening trend, and while the RSI indicates there could be room for further growth, the low momentum raises questions about whether the uptrend can sustain itself.

HNT ADX Shows The Current Trend Isn’t Strong

HNT’s ADX has dropped significantly to 13.28, down from a strong reading of 40 on September 18, signaling a major weakening in the strength of the current trend.

The ADX (Average Directional Index) is a technical indicator that helps determine the strength of a trend, regardless of its direction. When the ADX is above 25, it generally indicates that the trend is strong and likely to continue. Values below 20 suggest a weak or non-existent trend.

Read more: Helium (HNT) Price Prediction 2024/2025/2030

HNT Average Directional Index. Source: TradingView

With HNT’s ADX now well below the 20 threshold, this points to a lack of momentum behind the current price movement. Even though HNT is still in an uptrend, the low ADX suggests that the trend lacks the necessary strength to sustain itself.

This weakness could result in the trend reversing in the near future as it becomes more susceptible to selling pressure or a shift in market sentiment. A declining ADX in this range indicates that traders should be cautious, as the uptrend may not last much longer if momentum continues to fade.

Helium RSI Shows A Price Increase Potential

HNT’s RSI is currently at 50.21, which reflects a neutral stance in terms of market momentum. That indicates that the price is neither overbought nor oversold. The RSI (Relative Strength Index) is a technical indicator that helps traders gauge the speed and change of price movements by measuring the magnitude of recent gains against recent losses.

It oscillates between 0 and 100, with readings above 70 suggesting overbought conditions — where a price correction might be imminent. On the other hand, readings below 30 indicate oversold conditions — where a rebound may be expected.

HNT RSI.
HNT RSI. Source: TradingView

With HNT’s RSI at just over 50, the token finds itself in a balanced zone, meaning there isn’t excessive pressure from either buyers or sellers at the moment. This positioning leaves the door open for further price growth. That happens because the RSI has not yet reached levels that would signal an overheated market.

Given that HNT has already shown an upward trend with a 3.05% gain over the last 7 days, the biggest winner among the biggest DePin coins, the current RSI suggests that there could still be room for additional price appreciation.

On the other hand, ADX shows that the current trend is not strong enough. The balance between these two should is fundamental to track the next steps for HNT price.

HNT Price Prediction: Key Resistance at $8

HNT’s EMA lines are currently positioned in a bullish formation, having formed a golden cross on September 23. This golden cross occurs when a short-term EMA crosses above a long-term EMA. That signals the potential for a sustained upward trend.

However, despite this positive formation, the distance between the EMA lines remains relatively narrow. That suggests that the trend isn’t fully established or strong yet.

The Exponential Moving Average (EMA) is a technical indicator that tracks the average price of an asset over time but gives more weight to recent price movements. That makes it more responsive to price fluctuations than a simple moving average.

Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?

HNT EMA Lines and Support and Resistance.
HNT EMA Lines and Support and Resistance. Source: TradingView.

While the current EMA setup points to bullish potential, HNT has been facing resistance at the $8.00 level, struggling to break through this key barrier. If it manages to clear this resistance, it could rise to $8.70, offering a potential 10% gain.

However, with the ADX indicating a weak trend, there’s a real possibility that the momentum may fade. That means the uptrend could reverse. If this happens, HNT’s price could drop as low as $6.30, a substantial 20% decline.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Bitcoin Price Battles Key Hurdles—Is a Breakout Still Possible?

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Bitcoin price started another decline below the $83,500 zone. BTC is now consolidating and might struggle to recover above the $83,850 zone.

  • Bitcoin started a fresh decline below the $83,200 support zone.
  • The price is trading below $83,000 and the 100 hourly Simple moving average.
  • There is a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $83,850 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price failed to start a recovery wave and remained below the $85,500 level. BTC started another decline and traded below the support area at $83,500. The bears gained strength for a move below the $82,500 support zone.

The price even declined below the $82,000 level. A low was formed at $81,320 before there was a recovery wave. There was a move above the $82,500 level, but the bears were active near $83,850. The price is now consolidating and there was a drop below the 50% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

Bitcoin price is now trading below $83,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $82,550 on the hourly chart of the BTC/USD pair. On the upside, immediate resistance is near the $83,250 level. The first key resistance is near the $83,850 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $84,200. A close above the $84,200 resistance might send the price further higher. In the stated case, the price could rise and test the $84,800 resistance level. Any more gains might send the price toward the $85,000 level or even $85,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,850 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,550 level. The first major support is near the $82,250 level and the 61.8% Fib retracement level of the upward move from the $81,320 swing low to the $83,870 high.

The next support is now near the $81,250 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $82,250, followed by $81,250.

Major Resistance Levels – $83,250 and $83,850.



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Is CZ’s April Fool’s Joke a Crypto Reality or Just Fun?

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On April 1, Binance co-founder Changpeng Zhao (CZ) shared an amusing hypothetical on social media platform X (Twitter).

He posed the hypothetical scenario of a user generating a cryptocurrency wallet address commonly used for token burns, which permanently remove tokens from circulation.

Binance’s CZ Shares Cryptic Hypothetical on April Fools Day

Changpeng Zhao’s April Fools’ joke about generating a token burn address sparked discussions. However, the chances of it happening are astronomically low. CZ shared the post during the early hours of the Asian session, kickstarting an interesting discourse.

“Imagine downloading Trust Wallet and finding your newly generated address is: 0x000000000000000000000000000000000000dead. Theoretically speaking, it has the same chance as any other address. Alright, enough imagining. Not gonna happen. Get back to building. Happy Apr 1!” Changpeng Zhao wrote.

It comes in time for April Fools’ Day, celebrated annually on April 1, dedicated to practical jokes, hoaxes, and playful deception. Trust Wallet, integrated as Binance’s non-custodial wallet provider, played along with the joke.

“Happy April Fool’s Day,” wrote Trust Wallet.

While the idea seems far-fetched, CZ was not technically wrong. Theoretically, there is an infinitesimally small probability that someone could randomly generate a wallet address matching “0x000…dead” using software like Trust Wallet.

However, the chances are comparable to winning the lottery multiple times. To put things into perspective, one can generate blockchain addresses using cryptographic hashing functions that produce 160-bit outputs.

This means there are 2¹⁶⁰ possible Ethereum addresses—a number so vast that generating any specific address, such as “0x000…dead,” is practically impossible.

“Haha, imagine the odds! That is a 1 in 2^160 type of vibe. Good one, CZ—back to work now, no distractions from the code,” Synergy Media wrote, putting the rarity into context.

While CZ’s April Fool’s joke entertained the crypto community, the reality remains unchanged. The likelihood of generating a wallet address identical to “0x000…dead” is close to zero. This means the post was a fun thought experiment but nothing more.

“Imagine that you can randomly generate a Bitcoin private key every second, and suddenly one day the private key you generated happens to correspond to Satoshi Nakamoto’s wallet or Binance’s wallet. That’s terrifying,” another user quipped.

However, the joke does highlight the fascinating cryptographic underpinnings of blockchain technology. While every address is technically possible, some are rare and might as well be myths. Crypto users will have to keep burning their tokens the old-fashioned way.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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XRP Bulls Fight Back—Is a Major Move Coming?

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XRP price started a fresh decline below the $2.080 zone. The price is now recovering some losses and might face hurdles near the $2.150 level.

  • XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
  • The price is now trading below $2.120 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend losses if it fails to clear the $2.150 resistance zone.

XRP Price Faces Resistance

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.10 levels.

The pair even declined below the $2.050 zone. A low was formed at $2.023 and the price is now attempting a recovery wave. There was a move above the $2.050 level. The price cleared the 23.6% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

The price is now trading below $2.120 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.10 level. There is also a connecting bearish trend line forming with resistance at $2.10 on the hourly chart of the XRP/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $2.215 swing high to the $2.023 low.

XRP Price

The first major resistance is near the $2.150 level. The next resistance is $2.1680. A clear move above the $2.1680 resistance might send the price toward the $2.20 resistance. Any more gains might send the price toward the $2.220 resistance or even $2.250 in the near term. The next major hurdle for the bulls might be $2.2880.

Another Decline?

If XRP fails to clear the $2.120 resistance zone, it could start another decline. Initial support on the downside is near the $2.050 level. The next major support is near the $2.020 level.

If there is a downside break and a close below the $2.020 level, the price might continue to decline toward the $2.00 support. The next major support sits near the $1.880 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.050 and $2.020.

Major Resistance Levels – $2.120 and $2.150.



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