Helium [HNT] Falls by 24% – Will the Bulls Return or Is It Over? Find Out Here!

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  • The charts hint at some hope, but don’t get too excited just yet.
  • The OBV might just give us a hint—if it can get its act together.

Helium [HNT], that rebellious altcoin, made a remarkable 24% retreat from its peak at $4.5. On the afternoon of Saturday, April 12, HNT took a turn that would make any crypto fan sweat: breaking its bullish market structure and surging past the previous lower high of $3.4. This, of course, signified the end of the “doom and gloom” downtrend that had been grinding down the charts since January’s final days. Ah, the good old days of falling markets—how quaint!

The Bulls, Maybe, Are On Their Way

After this bullish breakthrough, HNT reached a blissful local high of $4.5. But, like all good things, it didn’t last. The price has retraced back to $3.4, but here’s the kicker: the bullish structure is still hanging on, just like a drunk at the end of the night trying to keep their balance. So, what’s next? Well, if you’re feeling adventurous, the next major support levels are at $3 and $2.25—because why not throw a little volatility into the mix, right?

Why could this happen, you ask? Well, there’s Bitcoin (BTC) stirring up the pot. It’s uncertain whether BTC has even seen its local bottom. If BTC decides to have another dip below $83k, expect a market-wide tantrum that could drag HNT into the mud. And don’t forget the other culprit: the feeble buying pressure. Honestly, if buyers can’t pick up the slack, it’s anyone’s guess where HNT could end up.

The OBV (that clever little tool) tested its February highs during HNT’s bullish shift, but—surprise, surprise—it couldn’t push higher. Could this signal a soft underbelly in the bulls’ armor? If the OBV can finally show some muscle and establish an uptrend in the coming days, we might just see another Helium rally. But that’s a big ‘if,’ isn’t it?

Now, let’s check the 4-hour chart, where the RSI (relative strength index for the uninitiated) is showing that momentum has hit the brakes. Over the past week, it’s been like watching paint dry. The price action even revealed that the bearish breaker block (red, ominous) at $3.7 has become a formidable resistance level, putting a damper on any hopes of an easy climb. The OBV’s inability to make a new high is just one more sign that the bulls might be too tired to keep running.

As we speak, HNT is sitting at the 50% retracement level—let’s hope it doesn’t stay there for long. Could it bounce higher than $3.7? Maybe, but that would require more buying pressure. So, for all you traders out there, keep your eyes on the OBV for any signs of a breakout. Or, just sit back and wait to see if it all crashes down—because, why not?

The 4-hour chart is currently showing some bearish vibes, and if Bitcoin decides to have a temper tantrum and dip below $83k, well, you can bet your bottom dollar that Helium’s short-term outlook will look even darker. In this sad reality, there might be a chance for traders to sell off and aim for a retracement to $2.75-$3. Enjoy the ride, folks.

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2025-04-18 10:19