The Helium network's native cryptocurrency, HNT, has defied the general market trend by showing a modest 2% increase in value over the last 24 hours, currently trading at $3.94. Despite this positive performance, technical indicators suggest that the current price rally may not last long. Market momentum surrounding HNT is weakening, raising concerns about the sustainability of the ongoing uptrend.

Although HNT has seen gains, there are signs of bearish signals on the horizon. On the one-day HNT/USD chart, the Chaikin Money Flow (CMF) indicator is trending downward while the price is rising. At present, the CMF for HNT is at the zero line, hinting at a potential dip below it.

The CMF indicator evaluates the flow of money into and out of an asset. A bearish divergence occurs when the price increases while the CMF drops, indicating diminishing buying pressure and a possible reversal in the market. This suggests that although the price of HNT has risen due to buyer activity, the declining CMF implies that the underlying demand may not be strong enough to maintain the upward trend.

Additionally, the Moving Average Convergence Divergence (MACD) indicator for HNT also supports the bearish outlook. Currently, the token's MACD line is below its signal line, indicating a negative market bias. The MACD helps identify price trends and momentum, providing cues for potential buying or selling opportunities based on crossovers between the MACD and signal lines. A bearish momentum is indicated when the MACD line is under the signal line, showing that more tokens are being distributed than accumulated among traders, which can lead to a further decline in price.

HNT's recent rally is at a critical juncture as buyers seem to be losing steam. The token has been trading above an ascending trend line since April 7, indicating a consistent price surge driven by strong demand. However, with a decrease in buying pressure, there is a risk that HNT may break below this trend line, currently acting as crucial support at $3.88. A breach of this support level could push HNT towards $2.21.

Conversely, a resurgence in buying interest could propel HNT to maintain its upward trajectory and surpass the $4 mark.

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