Helium Price in Jeopardy? Coinbase Halts Helium Mobile Trading – What’s Next for the Crypto Darling?
Coinbase just dropped a bombshell—Helium Mobile trading gets the axe. Is this a temporary blip or the start of a deeper plunge for HNT?
Market tremors hit Helium
Traders scrambled as one of crypto’s biggest exchanges yanked support without warning. The move comes amid growing scrutiny over decentralized wireless networks’ real-world adoption—or lack thereof.
Behind the suspension
While Coinbase stayed mum on specifics, insiders whisper about liquidity concerns. Helium’s ambitious pivot from IoT to mobile hasn’t exactly burned up the charts—unless you count the downward trajectory.
Silver lining playbook
DeFi diehards see opportunity: "This just proves we need more decentralized exchanges," tweeted one maxi, between sips of overpriced cold brew. Meanwhile, HNT holders are left wondering if their bags just got heavier.
Wall Street’s oldest rule applies double to crypto: when the music stops, retail investors are left without chairs. Again.
HNT price analysis
While the confusion surrounding the Coinbase delisting will likely be cleared soon, a look at derivatives data still suggests demand for HNT was fading.
According to data from CoinGlass, open interest in Helium Mobile’s futures market has dipped by 16% over the past 24 hours, which could translate into some short-term volatility as the long-short ratio suggested traders were leaning bearish.
Investors also seem to be increasing their transfers of HNT tokens to centralized exchanges, a trend that typically signals growing sell-side pressure and a potential uptick in short-term liquidations.
On the 1-day/USDT chart, HNT has failed to hold its local support level at $2.308, slipping below this threshold, which shows a lack of price stability.
Price action has now entered a descending channel, a bearish continuation pattern that typically suggests sustained downward movement as long as the token remains confined within the trend.
The Supertrend line has flipped above the current price, signaling a shift to a sell trend. Further, the RSI reading at 42 also points to diminished buying interest and rising downside risk.
Given these signals, the HNT token is likely to extend its downward trajectory. A drop toward the next key support at $0.00020 appears probable, which WOULD represent a drop of approximately 10% from the current price level at $2.18.
That said, Helium recently teased a potential partnership with Brazilian football legend Neymar. While details remain limited, such a collaboration could renew interest in the project and provide a counterweight to the current bearish momentum.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
