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Helium price surged by 34% in the last 24 hours to trade at $8.36 as of 5 a.m. EST as trading volume skyrocketed to $57.26 million.
Helium’s price surged after the project’s recent launch of Helium Mobile, a $20 monthly phone plan available across the United States. The plan offers unlimited data, texts, and talk, all for only $20 per month.
IT'S HERE🔥
Our nationwide $20/month Unlimited Phone Plan is now available!The average American spends $157/month on their phone plan, but starting today, anyone in the US can join Helium Mobile & say goodbye to overpriced bills.🙌
Read the news: https://t.co/qXWCpm6zbo
Sign… pic.twitter.com/A2hqPppCMB— Helium Mobile (@helium_mobile) December 5, 2023
The project’s connectivity service emerged as a cost-effective alternative to traditional service providers. Before Helium Mobile, an average US citizen would spend around $157 per month on phone plans offered by various providers.
The new connectivity services use Helium’s 5G network, which empowers users to set up their mini-cell towers and boost the network’s coverage.
The company’s statement says that Helium Mobile Hotspots allow subscribers to set up and own mini cell towers, thus eliminating dead zones simply by allowing anyone to become a builder and set up a hotspot to expand the network for themselves and the wider community.
Just got my @helium_mobile hotspot #LFG #helium #HeliumMobile #Helium #Crypto #utility pic.twitter.com/gSNbCldbZ4
— 🎈MaknBank.Crypto 🪝 (@makn_bank) December 8, 2023
Helium Price Prognosis Following The Launch Of Unlimited Monthly Phone Plan
Helium price’s rapid surge took the token to $8 earlier today, only briefly breaching this resistance and heading toward the next one at $8.50. However, before it reached this level, the token’s price was rejected to $7.87, from where it attempted to bounce back up.
Unfortunately, the resistance at $8 did not allow it for the second time, and now, the token remains just under it.
With the launch of Helium Mobile, the project is bound to see significant long-term growth, so it should be a good long-term investment.
But, in the short term, its next moves are more challenging to predict.
The hype regarding the network’s launch is still quite strong, meaning that there are fundamental reasons to support the idea that HNT’s price will continue its growth.
On the technical side, multiple indicators suggest the same, such as its extensive Bollinger bands.
However, HNT’s Relative Strength Index (RSI) suggests that the token has ventured deeply into the overbought territory, which is likely why its price surge lost its strength.
Buyers saw a chance to cash out before the price dipped, and many have taken it, interrupting the rally.
Moving forward, the HNT price could see a correction that might push it down toward a resistance-turned-support at $6, from where it would have an opportunity to rebound and attempt another climb.
However, if the bullish pressure increases sooner, the token could avoid such a significant drop and make another attempt to breach the resistance at $8.
With that said, HNT’s Average Directional Index (ADX) has recently jumped to over 60, signaling that the coin still has momentum.
As a result, the bullish trend might likely continue in days and weeks to come, potentially taking HNT up to the resistance at $10.
Promising Alternatives To Helium
While HNT holders have managed to see great benefit from holding the token at the time of Helium Mobile’s launch, there is a project that could potentially offer even greater earnings in due time.
The project in question is called Bitcoin Minetrix (BTCMTX), a cloud mining platform for Bitcoin.
#BTCMTX offers a trustworthy cloud mining solution for all #Crypto enthusiasts.
Past concerns about high hardware costs and deceitful cloud mining scams have deterred many from entering the space.
This decentralized method ensures a transparent and secure mining journey.🔒 pic.twitter.com/I600MjT8HE
— Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
The project has its token, BTCMTX, which users can buy and stake. In doing so, they receive credits that can be used to mine Bitcoin.
There is a huge demand for mining BTC, as the coin is approaching its block reward halving, scheduled to take place in April 2024.
What is #BitcoinMinetrix?🛠️🪙#Bitcoin Minetrix is a tokenized cloud mining platform that allows everyday people to mine $BTC in a decentralized way.
Solving a huge problem by removing the risk of third-party cloud mining scams and putting the control into the hands of users. pic.twitter.com/LOY6lpZMja
— Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
As a result, miners are doing everything in their power to mine as much BTC as possible and rarely sell it right away.
This makes individual mining even more complicated, not to mention the massive cost of Bitcoin mining gear and electricity needed to run it. This makes mining via cloud platforms the best available alternative.
Bitcoin Minetrix is aware that many might be skeptical about cloud mining platforms due to numerous fraudulent platforms that caused losses to users in the past.
This is why it ensured its platform was fully decentralized and transparent, with audits to prove it.
So far, Bitcoin Minetrix has raised over $5.32 million, becoming one of the biggest presales in 2023. However, it is still not over, and its token, BTCMTX, can be purchased even now in exchange for ETH or USDT or via credit/debit card.
Its current price is $0.0122, but this is scheduled increase in a little over one day.
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