InOctober,theHNTpriceexperiencedasignificantdropofnearly30%fromitssupplyzone.Thisstrongsellingmomentumeasilybrokethroughthe20-dayand50-dayEMAbands.Itreachedthe200-dayEMAlevelbymid-month.
Inthepasttwodays,theHeliumcryptopricehasdemonstratedarecovery,surgingby12%.The200-dayEMAonthedailychartsupportsthisrebound.
WhatInfluencedtheOptimisminHNTPrice?
ThisHNTpricesurgewasdrivenbymultiplefactors,includingHelium’sstrategicpartnershipsaimedatenhancingitsecosystem.
OnOctober9th,HeliumannouncedastrategicpartnershipwithAmeribandtodeployover100,000>
“Throughthispartnership,theHeliumNetworkisexpandingbyaddingAmeriband’s100,000+>
gm,@Grayscalehttps://t.co/kbBSOywe9opic.twitter.com/0av7X9ZNBs
—abhay🎈(@abhay)October11,2024
Additionally,onOctober17th,perthe2024’s,a16zcrypto’sStateofCryptoreporthighlightedHelium’sprominence,featuring4outof6majorDePINs.
ThesepositivedevelopmentswithintheHeliumecosystemhaveboostedtheHeliumcryptoprice,indicatingstrongpotentialforfuturegrowth.
HowistheHNTPricePerformingontheDailyChart?
TheHNTpricehasstartedrecoveringoverthepasttwodays.Itfoundsupportfromthe200-dayEMAonthedailychart.
Despitethisrebound,theHeliumNetworkToken’spriceremains42.50%belowitsall-timehigh(ATH).Althoughthereareindicationsofapossiblebreakoutrally,themarketremainswary,especiallyaroundthe$8mark.That’sasignificantresistancelevelfortheHNTcryptotoovercome.
HNT/USD1.D.|Source:Tradingview
Inthepastweek,theHeliumcryptopricehasseena14%correctionandhasdeclinedby30%sinceSeptember.The50-dayEMAindicatesabearishtrend,whilethe200-dayEMAremainsasupportlevel,underscoringaperiodofuncertaintyforHelium.
Additionally,theRSIisnearlyneutralat45,suggestingabalancebetweenbuyingandsellingpressure.
Thiscryptocouldretestthe$6.525resistancelevelintheshorttermifthebullishmomentumreturns.Ifitmanagestoholdabovethisthreshold,itcouldpavethewayforHNTpricetotargetitsupperresistancerangeof$8to$9inthecomingweeks.
SyndicaReportHighlightsHeliumasaTopTierDePINLeader
Accordingtotheirreport,DataCreditsburnroseby33%,dailyHeliumNetworksubscribersincreased13-foldinthreemonths,anddatatransferredontheHeliumNetworksurged36-fold.ThesefiguresreflectgrowingoptimismintheHeliumecosystem.
ReportData|Source:syndica
ThereportunderscorestheincreasingdemandandpracticalapplicationoftheHeliumNetworkasitexpandsswiftly.Italsodemonstratesthatcommunity-driveninfrastructurecangrowmorerapidlythancentralizedsystems.
HowEfficientlytheHeliumEcosystemisExpanding?
HeliumMobilehassolidifieditsstandingandmadenotableprogressinthetelecommunicationsindustry.HNTpricehasexhibitedapositivetrend,drivenbyHelium’scompellingDePINnarrative.
hotspotmap|Source:helium
AccordingtotheHeliumwebsite,theHotspotmapindicatessignificantnetworkgrowthwithpromisingpotential.Overthepast30days,HeliumMobilenetworkusagehasadvanced.Theestimateddailytotalusageofthenetworkhasreachedapproximately$9403.72asofOctober19th.
networkusage|Source:helium
Networkstatisticsindicatethattherewere354,483activeHeliumIoTHotspotsatthetimeofwriting.Additionally,theHeliumMobilenetworkhad18,135activehotspots.
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