Helium (HNT) – Broken the Gaussian ChannelPosted on Thursday, November 18 2021 at 9:25 pm GMT+0000
Helium (HNT) has fallen under the 55-exponential moving average and has lost the 38.2% Fibonacci at $46.63 and is holding the 23.6% Fibonacci at $43.64
The MACD is negatively charged at -1.1, and the RSI is oversold at this stage and has a lot of room for growth moving forward.
For the first time in a month, we just close a candle below the Gaussian Channel at $43.64, which in this case overlap with the 23.6% Fibonacci level.
Since losing the wedge’s support and the 20-exponential moving average, helium had a 16% correction and has fallen below the exponential moving average.
If we are going to reverse this trend, resistance could transpire from the 50% Fibonacci at $49.04. Then, if we start rolling a little bit deeper, we could meet the 0% Fibonacci and the bottom of the wedge at $38.81. From there, we can start grinding up again the Fibonacci level.