After falling from a high of $9.60, the HNT price is putting on a show, indicating substantial demand from buyers at lower prices. The present trend indicates a possible double-bottom reversal, with the 50-day Exponential Moving Average (EMA) providing support. With everything pointing to a positive recovery, the main issue on everyone’s mind is whether HNT can reach the coveted $10 milestone. It’s like watching a thrilling film; the stage is prepared for something fantastic. Let’s take a look at this Helium price prediction article in more detail.
How has the HNT Price moved in recent days?
As of today, the Helium price stands at $7.46, and it’s been quite active in the last 24 hours, with a trading volume of $10.19 million. The overall value of all Helium tokens out there (market cap) is $1.20 billion, and it holds about 0.07% of the entire crypto market. Over the past day, Helium’s price enjoyed a nice 11.77% boost.
On November 12, 2021, Helium hit its peak at an all-time high of $55.17. But it’s had its rock-bottom moment too, back on May 29, 2020, grooving at an all-time low of $0.200066. Since the grand high, the lowest Helium has gone is $1.164490 (cycle low), and the highest after that low point was $9.56 (cycle high). People seem pretty positive about Helium’s future, and the Fear & Greed Index is at 49, which is kinda in the middle (Neutral).
There are currently 160.48 million Helium tokens out there circulating, out of a total supply of 223.00 million. Every year, they’re making more, with a 20.17% increase, creating about 26.93 million Helium tokens in the last year. In terms of market cap rankings, Helium is rocking the 18th spot in the Ethereum (ERC20) Tokens sector and cruising at 32nd place in the Layer 1 sector.
Helium price prediction: Why is the HNT Price UP?
Telefonica, the world’s 27th largest telecommunications carrier, has partnered with Nova Labs to launch Helium mobile hotspots in Mexico. This strategic alliance aims to address the persistent issue of restricted internet access in impoverished regions, and it is all made possible by a unique blockchain-powered network.
The idea is to install thousands of Helium hotspots in critical locations such as Mexico City and Oaxaca, all powered by Nova Labs’ blockchain technology. The exciting aspect is that individuals that host these hotspots are compensated with Helium’s cryptocurrency, HNT, as an incentive for helping to extend network coverage.
This novel “proof-of-coverage” methodology seeks to establish a decentralized network, potentially lowering infrastructure costs as compared to previous approaches.
The news shook the cryptocurrency market, generating a ripple effect that increased HNT’s price by more than 20%. This increase in value follows a similar trend observed in December when Helium partnered with T-Mobile to provide countrywide mobile connectivity in the United States.
These strategic alliances appear to be significantly boosting HNT’s market performance, indicating more recognition and enthusiasm for Helium’s crypto endeavors. It’s as if the news is generating shockwaves of excitement, indicating big milestones for Helium and its growing importance in the telecommunications industry.
How high will the HNT Price Go in 2024?
The tremendous rise in HNT’s price over the last year, a significant 162% gain, demonstrates its outstanding success in the crypto market. Outperforming 81% of the top 100 crypto assets within this time span demonstrates the robustness of HNT’s upward trend.
Notably, HNT has outperformed even the crypto world’s titans, Bitcoin and Ethereum, demonstrating its potential to stand out in a competitive field.
Furthermore, the fact that it is trading above the 200-day simple moving average indicates a consistent upward trend. The latest 15 green days out of the last 30, accounting for 50%, add to the optimistic feeling around HNT. Investors are most certainly attentively following these indicators, assuming that this outstanding trend will continue and speculating on any future occurrences that may fuel HNT’s growth.
The forecast for Helium suggests a trading range between $6 and $16. If things align favorably and Helium hits the upper limit, we might witness a substantial +115% surge, pushing its price up to $16. It’s like having a roadmap for potential gains, but in the unpredictable world of crypto, it’s essential to acknowledge the inherent uncertainties.
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