Helium HNT Price Shows Signs of Uptrend
Helium HNT’s price has increased by 3.1% in the last 24 hours, indicating a potential uptrend for the asset. Although its 7- and 30-day gains are relatively modest, the price surge today has sparked hope among buyers with long positions. However, it’s important to remain cautious as the bears could potentially cause a surprise.
Exciting Developments in Helium Ecosystem Drive HNT Price Gains
Nova Labs, the developers of Helium, have launched a new product called Helium Mobile in collaboration with T-Mobile. This partnership allows Helium to provide high-speed and quality data for IoT users at cheaper rates. Mobile users who utilize Helium hotspots can earn $MOBILE tokens, while coverage providers receive $HNT tokens. The partnership is expected to boost the value of the Helium ecosystem and HNT tokens.
Helium Summit Move to Barcelona Creates Tension in Community
Helium recently announced that their summit, originally planned for Amsterdam, will be moved to Barcelona. This decision aims to align with the IoT community in Europe. However, some members of the Helium community have expressed disappointment and frustration, as flights and hotels have already been booked for Amsterdam. This tension within the community may lead to a price retracement for HNT.
Golden Cross Indicates Price Recovery for HNT
HNT’s price is rising as it attempts to cross over the 50-day and 200-day Simple Moving Averages (SMA). The formation of a golden cross on the 50-day SMA suggests a potential rally for the asset. While the Relative Strength Index (RSI) indicates price volatility, the fading Histogram bars hint at a possible bullish recovery. However, sellers are still active according to the Moving Average Convergence/Divergence (MACD).
$1.68 Resistance Level Critical to HNT’s Rally
HNT has found support at $1.63 and is aiming to break above the $1.68 resistance level. If successful, the asset could rally to the next resistance levels of $1.73 and $1.82. The $1.86 resistance level is the realistic profit target in the near future. Meanwhile, investors can explore the Sonik Coin presale, a stake-to-earn project that aims to hit a $100 million market cap.
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