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Helium forecast – price collapses by 85%! When will the bottom be reached?

 


Helium price was able to find short-term support in the $9-$11 support zone last week, however, the current week appears to be having a negative impact on the price. If the current weekly candle closes roughly as it is at the moment, the price could fall even further. The indicators, such as the Relative Strength Index (RSI) still have enough room to go down, which is why we assume that prices will continue to fall based on the indicators. However, one should wait and see what the course does at the weekend. If the weekly candle closes above $9 at 01:00 on Monday, we no longer expect prices to fall any further. However, this is rather unlikely.


If the weekly candle closes in a bearish tone and thus has a negative impact on the price, which we expect, the price could be headed for the next support. This is around $4.57, which is why another price drop of around 45% is conceivable. After the price breaks this support, bullish prices may resume. Eventually, the price will retest the broken support zone ($9-$11) and rally 100%.

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