Helium (HNT) and QuarkChain (QRK) lead this week’s market losers as the crypto selloff continues. The market dropped following the the Federal Reserve’s interest rate decision.
Are HNT and QRK good investments for 2023? Both Helium (HNT) and QuarkChain (QRK) have bearish technical indicators which made investors think it’s time to go somewhere else.
A standout performer of the past week has been The Hideaways (HDWY) – a new cryptocurrency that many analysts are predicting will soon become a top 10 project.
Helium (HNT) Suffering
Helium (HNT)’s price declined 12% to $4.47 in the last 24 hours. This is just a day after its founder announced latest partnership with telecommunications company, T-Mobile, to launch the world’s first ever decentralized 5G mobile service.
The decline in investors’ appetite has been evident in today’s trading volume – down 32% to $39.69 million.
As of the latest charts, Helium (HNT)’s technical indicators are extremely bearish. After the 20-day EMA crossed below the 50-day EMA in January 2022, the coin’s price had steadily followed a downtrend.
With no signs of bulls taking over soon, the HNT price does not look appealing. Is HNT a good investment? We don’t think so. There are better projects out there that look more stable over the long term.
QuarkChain (QRK) Price Drops 8%
Following Helium (HNT)’s downward trail is QuarkChain (QRK). The token’s buyers could not stand the pressure on today’s session, leading to an 8% dent to $0.013 in the last 24 hours. Trading volume had also been affected – down 11.42% to $42.56 million during the day.
On the upside, QuarkChain (QNT)’s technical indicators are showing a hint of bullish trigger. The 20-day EMA crossing over the 50-day EMA on September 13 had staged a buying opportunity. The coin’s Relative Strength Index briefly hit the overbought territory on September 17 after coming at 72.22.
However, this did not last long. RSI dwindled back and forth between 56.0 and 61.0 today – both zones indicate strong buying sentiment but still not strong enough to bring prices up.
Price Rise Incoming at The Hideaways?
The Hideaways (HDWY) has only been live for 2 weeks but 50% of allocated presale tokens have already been sold.
An active investor community has seen the introduction of 2 new VIP tiers and are benefitting from a huge rewards event happening this weekend.
Investments of $2,500 and upwards are being rewarded with a 50% bonus allocation on top of the 25% given with purchase. A huge reward on investment!
With the price only $0.02 but expected to hit $0.08 by the end of October, investors are seizing the opportunity to win big.
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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