HNT coin price shows an excellent selling opportunity as the price retests the bearish breakout of the flag pattern. Should you sell as well?

Helium seeks to enhance the capabilities of wireless communication Internet of Things (IoT) devices. The infrastructure surrounding IoT was in its infancy. However, developers were looking to add the concept of decentralization and hence refer to Helium in the form of "The People's Network" in the official documentation.

Its main draw will be for owners of devices as well as those who are looking to enter the IoT area, and financial incentives will provide more opportunities to reach out.

Let us move ahead to read about Helium technical analysis.
<h2>Past Performance of HNT</h2>
HNT coin price grows more than 15% resulting in a bullish reversal from the horizontal level at $30. However, the price jump retests the bearish fallout of the flag pattern. Therefore, traders can shortly find the prices resuming the <a href="https://www.cryptoknowmics.com/news/hnt-technical-analysis-v-shaped-recovery-leads-into-flag-pattern/">downtrend</a>. 

<img src="https://s3.tradingview.com/snapshots/k/K3D4UAvX.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/K3D4UAvX/">HNT/USD Daily Chart</a>
<h2>HNT Technical Analysis</h2>
The news so far for HNT and the company has been positive, with the network expanding to 5G coverage, and the coin prices touching the $50 barrier. Furthermore, Helium has announced a new collaboration with the major carrier Dish.

The HNT price action indicates resistance levels at $45 and $52 above the flag pattern. The support levels are at $26 and $21 which can halt a downfall if the price fails above $30.

The crucial EMAs (50, 100, and 200) keep a positive alignment in the daily chart. The price action finds resistance near the 50-day EMA after the recent rise. The falling prices can find support at 100 and 200-day EMAs, and the fallout of each will increase the bearish attention.

The RSI indicator at 47% fails to rise above the 14-day SMA and the central line in the daily chart. Therefore, the rejection can shortly increase the underlying bearishness.

The MACD indicator shows the MACD and signal lines failing to sustain above the zero line after the bearish crossover. Therefore, the indicator gives a sell signal for the coin.
<h2>Upcoming Trend</h2>
The technical indicators reflect underlying bearishness ready to overtake the trend control in the HNT coin. Moreover, the price action shows the retest of the bearish breakout of the flag pattern. Therefore, the bearish signals overwhelm the bullish powers.

Therefore, traders can find selling opportunities at current prices with a target near the 200-day EMA. However, safe traders can find an entry opportunity at the $30 fallout with the target at $21.

HNT Technical Analysis: Retest of Bearish Flag Breakout Brings Selling Opportunity

HNT coin price shows an excellent selling opportunity as the price retests the bearish breakout of the flag pattern. Should you sell as well?

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: Retest of Bearish Flag Breakout Brings Selling Opportunity

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