HNT coin price falls under the $20 support level with a surge in selling pressure displayed by the 7% bearish candle. Will the downfall reach $16?

Key technical points:
<ul>
 	<li>The bearish MACD histograms regain trend momentum. </li>
 	<li>The HNT coin price has descended by 30% within two weeks.</li>
 	<li>Finally, the 24-hour trading volume of Helium is $30.19 Million, marking a 184% rise.</li>
</ul>
<h2>Past Performance of HNT</h2>
HNT coin price fell by 30% in the past two weeks after facing immense supply pressure near the merged 100 and 200-day at $25, resulting in a downfall. The retracement cracks under the 50-day EMA and the psychological barrier at $20, which acted as the monthly support. 

<img class="alignnone" src="https://s3.tradingview.com/snapshots/k/kx4VGNeC.png" alt="HNT/USDT Chart" width="1834" height="902" />Source-<a class="editor-rtfLink" href="https://www.tradingview.com/x/kx4VGNeC/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>HNT Technical Analysis </h2>
HNT coin price action forms a solid bearish engulfing candlestick resulting in the monthly support fallout of $20. Moreover, the breakout rally shows off bearish commitment with the jump in trading volume. Hence, the downtrend is most likely to take support at $16.

The crucial daily EMAs (50, 100, and 200) regain the bearish alignment after the 100 and 200-day EMA diverge to regain spread. Moreover, the falling trend of the EMAs reflects a solid underlying bearishness. 

RSI Indicator: The sudden fall in the RSI values warns the slope crossing into the oversold zone. Moreover, the 14-day SMA continues to fall after breaking under the 50% line. Hence, the indicator reflects a high possibility of a downtrend continuation to $16.

MACD Indicator: The MACD and the signal lines gradually lowering in the bearish territory suggests aggressive selling in the market with no signs of reversal.

In a nutshell, the HNT technical analysis illuminates the possibility of a downtrend under $0.050.
<h2>Upcoming Trend </h2>
If the <a href="https://www.cryptoknowmics.com/news/hnt-technical-analysis-can-buyers-overtake-control-of-200-day-ema/">HNT</a> price offers a daily-candle closing below $20 support, the selling momentum will intensify and slump the coin price by another 16.2%.

Contrary to the bullish thesis, if buyers push the coin price above the $20 level during the expected retest phase, the resulting fakeout would pump the price to the $26 mark.

Support Levels: $16.4 and $14.3

Resistance Levels: $20 and $22.5

HNT Technical Analysis: $20 Fallout Proposes Retracement to $16

HNT coin price falls under the $20 support level with a surge in selling pressure displayed by the 7% bearish candle. Will the downfall reach $16?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

HNT Technical Analysis: $20 Fallout Proposes Retracement to $16

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