The HNT coin price gives a head and shoulder fallout and takes support at $22.75. However, the increasing bearishness hints at $20 fallout.

The HNT coin price remains under the bearish influence of multiple resistances like a couple of trendlines, falling EMAs, and horizontal levels. However, the recent support near the $22.75 mark highlights the possibility of a bullish reversal to the 200-day EMA. Nonetheless, ahead and shoulder pattern hints at $20 fallout. 
<h2>Key technical points:</h2>
<ul>
 	<li style="font-weight: 400">HNT coin price forms a head and shoulder pattern.</li>
 	<li style="font-weight: 400">The falling EMAs tease a death cross possibility.</li>
 	<li style="font-weight: 400">The 24-hour trading volume in the Helium token is $2.19 Billion, indicating an 85% rise. </li>
</ul>
<h2>Past Performance of HNT</h2>
The HNT coin price fails to rise above the 200-day EMA and falls below the crucial mark of $25 to find support at the $22.75 mark. The 18% downfall in the past 72 hours completes the fallout, and a potential retest-reversal from $22.75 could reach $25. 

Currently, the market price of a single HNT token is $23.91, with a 5.77% spike in the last 24 hours. 

<img src="https://s3.tradingview.com/snapshots/o/OTmK8xjk.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/OTmK8xjk/">Tradingview</a>
<h2>HNT Technical Analysis </h2>
The fallout of the head and shoulder pattern drives the HNT coin price lower to $22.75. The reversal possibility to retest $25 increases with the bullish candle forming to reach higher. However, the fallout of $22.75 will result in the $17 mark downfall.

The crucial EMAs maintain a bullish alignment, but the falling slope indicates a high possibility of a death cross. Moreover, the token price trades below the 200-day EMA, indicating an overall bearish signal.

The RSI Indicator shows the slope breaking below the crucial support of 40%, indicating a downfall continuation. Moreover, the falling slope of the 14-day SMA adds extra points to the bearish theory.

The Stochastic RSI indicator shows the K and D line giving a bullish crossover in the oversold zone. However, the increasing selling pressure hints at the increased possibility of an early bear cycle. 

In a nutshell, the HNT technical analysis projects a high plausibility of a post-retest free fall to $17.
<h2>Upcoming Trend</h2>
The HNT coin price gives a bearish pattern fallout with the technical indicators showcasing the underlying selling pressure. Hence, the growth from the $22.75 comes as a retest phase, and a bearish reversal is possible at any moment. 

Traders can expect the upcoming bearish trend to break below the $20 to test the $17 mark. However, the reversal in action can retest $25.  

Support Levels: $20 and $17

Resistance Levels: $25 and $27.5

HNT Technical Analysis: $25 Fallout Increases Bearish Burden

The HNT coin price gives a head and shoulder fallout and takes support at $22.75. However, the increasing bearishness hints at $20 fallout.

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: $25 Fallout Increases Bearish Burden

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