Helium Token Balloons To 85% For A Yearly High – What Drove The Price Up
12 Dezember 2023 - 1:00PM
NEWSBTC
After rising sharply from the $2.00 bottom, Helium (HNT)
demonstrated a strong upswing that further fueled the market’s
positive attitude and increased the momentum of the advance. This
week has witnessed bull action for the Solana-based Helium
Network’s HNT coin, which has seen a 70% weekly rise to $4.86.
Based on the most recent data, HNT, which has a market cap of about
$700 million and an amazing $10 billion in trading volume as of
press time, quietly touched a yearly high of $5.12 over the weekend
after seeing a commanding 85% price spike in only seven days.
Related Reading: Hold Your Horses: Bitcoin Could Fall Back To Under
$38,000, These Analysts Say Helium Climbs To Yearly High HNT price
action today. Source: Coingecko Buyers demonstrated an upswing and
were able to keep the price above both EMAs. The 200-day EMA, which
shows strength in the most recent bull run, is about to cross paths
with the 50-day EMA for helium. In the event that the crossing
takes place, prices may reach new swing highs. The price of helium
has been more volatile this week due to a divergence in the
Bollinger Bands. Indicating bull domination throughout the course
of the week on the price of helium, HNT’s relative strength
indicator is above its average line in the overbought area. HNT
price prediction for December. Source: Coincodex. HNT was up from
$2.73 to $5.78 in the first week of December, signifying a 70%
increase in price. Just this past month, the token has increased by
over 190%. The most recent estimate for the price of Helium is that
it may reach $5.75 this month, according to Coincodex. For a
network that has primarily dealt with bad press regarding its
product and the transition from its proprietary blockchain to
Solana, this price performance marks a turnaround. HNTUSD trading
at $5.31 today. Chart: TradingView.com HNT Among Top Crypto
Performers In the cryptocurrency market, Helium, a decentralized
network that launched in 2019, has made significant progress. It is
now among the best performers. Concurrent with this price increase
is Solana (SOL), which has risen by over 50% over the past 30 days.
On November 12, 2021, HNT reached its highest point at $55.15. On
the other hand, it fell to an all-time low of $0.200 on May 29,
2020. Related Reading: Avalanche Rules Top 10 Ranking With 61%
Weekly Gain – Here’s The Scoop The lowest recorded price since the
all-time high was $1.16, and the highest was $5.75. The Fear &
Greed Index shows a score of 72 (Greed), and the current consensus
for Helium’s price prediction is positive. Meanwhile, analysts say
the $20 monthly phone plan from Helium Mobile, which gives
customers unlimited data, voice, and text, is mostly the impetus
for HNT’s price increase. According to a recent survey, the average
American spends about $150 a month on phone plans alone. Helium’s
newest connectivity service is expected to provide a more
affordable option than traditional service providers. Featured
image from Pixabay
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