HNT fell more than 5% because the sales pressure spread over the helium ecosystem after Coinbase’s deletion of the outdated helium mobile token.
According to data from crypto.news, Helium Mobile (Mobile) price fell on 27 June to an intraday depot of $ 0.00026 before he recovered from the moment of the press to $ 0.00027. It remains approximately 87% lower than its last highlight of $ 0.0021.
The price drop of the token today came shortly after Crypto Exchange Coinbase announced That the Helium Mobile (mobile) had deleted, in addition to other tokens, including Render (RNDR), Ribbon Finance (RBN) and Synapse (SYCE), on 26 June. The cited reason was that new versions of these tokens were released, whereby the older tokens no longer met the list of lists of the exchange.
For the non-dedication, the old Solana-based mobile token of Helium Mobile was officially abolished in January of this year after the implementation of HIP 13, a proposal to simplify the helium ecosystem by consolidating mobile and IoT tokens in a uniform HNT token.
While most large exchanges are automatically converted into mobile to HNT earlier this year, Coinbase had delayed the transition, which led to confusion among users after the recent deletion.
The native token of helium, hnt, and its sub -networking, IoT, also fell in today’s recession, each falls more than 5%.
HNT -Price analysis
Although the confusion surrounding the deletion of Coinbase is likely to be cleaned up soon, a glance at derivative data still suggests that the demand for HNT faded.
According to facts Van Coinglass has fallen the open interest in Helium Mobile’s Futuresmarkt in the last 24 hours by 16%, which could translate into some short -term volatility, because the long -term ratio suggested that traders Beararish Leundden.
Investors also seem to increase their transfers from HNT tokens to centralized exchanges, a trend that usually indicates the growing sales pressure and a potential increase in liquidations in the short term.
On the 1-day/USDT graphic, HNT did not set its local level of support at $ 2,308, which slides under this threshold, which shows a lack of price stability.
Price promotion has now been introduced a descending channel, a bearish continuation pattern that usually suggests a persistent downward movement as long as the token is limited in the trend.
The super trend line has been reversed above the current price, which indicates a shift to a sales trend. Furthermore, the RSI lecture also indicates 42 to reduced purchase interest and increasing downward risks.
Given these signals, the HNT -token will probably expand its downward process. A decrease to the next important support at $ 0.00020 seems likely, which would represent a decrease of around 10% compared to the current price level at $ 2.18.
That said, helium recently plagued A potential partnership with Brazilian football legend Neymar. Although the details are limited, such a collaboration can renew the interest in the project and offer a controut for the current Bearish Momentum.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
