Helium (HNT) Emerges as Top Gainer, Price Cooldown Expected
HNT has experienced a significant surge, making it the top gainer among the top 100 cryptocurrencies. Currently trading at $8.14, HNT has seen a 19% increase in the past 24 hours. Its market cap has reached $1.16 billion, ranking it as the 61st-largest cryptocurrency. Additionally, the daily trading volume of HNT has risen by approximately $12 million to reach $46 million.
Possible Price Cooldown Ahead
Data from Santiment reveals that Helium’s Relative Strength Index (RSI) currently stands at 81.55, suggesting the potential for a price cooldown. For further bullish momentum, it is important for HNT’s RSI to remain below the 65 mark.
In addition, social volume surrounding Helium has been decreasing since December 15th, with a 27% drop in social activity over the past 24 hours, according to Santiment.
Decline in Open Interest
Santiment’s market intelligence platform indicates that HNT’s total open interest (OI) has decreased by approximately $280,000 in the last day, now standing at $3.69 million. Between December 10th and 13th, Helium’s total OI experienced a significant decline from $5.8 million to $2.5 million.
The recent surge suggests that investors have been accumulating HNT in anticipation of future price movements.
Helium Mobile (MOBILE) Records Significant Gain
HNT’s sister coin, Helium Mobile (MOBILE), has also experienced impressive growth, becoming the top gainer among the top 300 cryptocurrencies. Within the past 24 hours, MOBILE has rallied by 98% and is currently trading at $0.0069.
Potential Price Catalyst: Nova Labs’ Data Plan Launch
A potential driver for the price movements of both HNT and MOBILE could be Nova Labs’ upcoming launch of their monthly data plan in the U.S.
Hot Take: HNT Surges While Price Cooldown Looms
Helium (HNT) has seen a significant surge, making it the top gainer among the top cryptocurrencies. However, indicators suggest a potential price cooldown ahead. With a decrease in social volume and open interest, it remains to be seen how HNT will perform in the near future. The rally of its sister coin, Helium Mobile (MOBILE), adds further excitement to the Helium ecosystem. As Nova Labs prepares to launch its monthly data plan in the U.S., it will be interesting to see how it impacts the prices of HNT and MOBILE. Keep an eye on these developments if you’re invested in Helium.
Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah’s insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist’s eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.
