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Helium Price Predictions: Will the HNT Crypto Recover?


  • Amid a soft day for cryptocurrencies, Helium (HNT-USD) has absorbed a roughly 7% loss over the trailing 24 hours, posing concerns among stakeholders.
  • Assessing broader market sentiment, circumstances spell trouble for HNT as crypto buyers fear the latest reprieve may be a dead-cat bounce.
  • Total order volume for Helium is down substantially from its peaks, meaning that future choppiness is almost guaranteed.
Helium price predictions - Helium Price Predictions: Will the HNT Crypto Recover?

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After a strong showing overall in the trailing week, cryptocurrency investors woke up to a rather soft session. One particularly impacted crypto was the popular digital asset Helium (HNT-USD). Down about 7% over the trailing 24 hours, stakeholders are experiencing some Monday afternoon blues. Though toxic optimism is rarely in short supply within the crypto community, HNT holders will do well to exercise caution. Helium price predictions don’t exactly present an enticing picture.

Fundamentally, the HNT crypto attracted speculators into its mix because of its groundbreaking concept. Leveraging the power of the blockchain, Helium’s founders set out to create the world’s first peer-to-peer wireless network. By simplifying device connectivity to the internet and implementing unique economic incentivization programs, the HNT network offered the potential to expand the total reach of the Internet of Things (IoT).

However, with both retail and institutional investors losing confidence in the crypto sector — best epitomized by the implosion of the rebranded Terra Classic (LUNC-USD) project — it’s natural that market participants are anxious to dump their presumably lesser coins and tokens.

Order Book Tells the Tale of the HNT Crypto

For anybody interested in buying cryptos, it’s always important to get down to the brass tacks. Practically, this means avoiding the marketing blitz and heading straight to the order books, which precisely records the constant tug-of-war between bulls and bears.

In HNT’s case, bids (buy orders) generally outpaced asks (sell orders) from late April to late September of last year. However, on Nov. 10, the mood changed dramatically, with asks outnumbering bids by a nearly two-to-one ratio. Since then, the bull-bear ratio significantly tightened up, followed by a conspicuous reduction in total order volume.

Stated simply, crypto investors are not buying the dip in Helium. If anything, they’re using any excuse to exit HNT.

Helium Price Predictions

Based on a collection of opinions from market participants, HNT has a minimum price target of $11.56. The maximum target is nearly $15 for 2022. At the time of writing, the max forecast would result in a 41% gain for investors.

But the latest price projection from Wallet Investor suggests an extremely bearish outlook, with observers calling for the HNT price to hemorrhage down to $2.01 in the next year. That would represent a staggering 81% loss from the current market value. However, to be fair, such a call goes against all other Helium price predictions.

Let the Market Speak

Ultimately, those interested in Helium should weigh the voice of the market, specifically the order book. After the fateful day in November, HNT crypto investors had the wind knocked out of them. With total order volume down, it’s fair to assume that at bare minimum, stakeholders should expect severe choppiness.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.

Article printed from InvestorPlace Media, https://investorplace.com/2022/06/helium-price-predictions-will-hnt-crypto-recover/.

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