Helium Price Prediction: HNT Rallies to $1.68 – Reasons for the Sudden Spike

Helium HNT’s price surged by 3.1% in the last 24 hours, signaling a possible uptrend for the asset. At 8:56 a.m. EST, its price is $1.66, and its trading volume is up by 66.40%, pushing the price gains. 

However, its 7- and 30-day gains are modest at 1.2% and 0.7%. HNT’s price gains today spark hope among buyers aiming to gain on long positions. But the bears could spring a surprise.  

Exciting Developments In Helium Ecosystem Likely Driving HNT Price Gains

Who's ready for #HeliumWeek? 🙋‍♀️

To kick things off we wrote a piece covering everything you need to know about @helium 🎈

Also, we are giving away $250 in $HNT to the funniest Helium meme. Take your shot in the comments below! 👇https://t.co/XcZKPFbcuy pic.twitter.com/5RueQTgQfp

— Beluga (@getbeluga) August 21, 2023

Nova Labs (Helium Developers) remains committed to providing practical solutions to Internet-of-Things (IoT) users. Helium Mobile is one of the new products launched by Nova Labs in agreement with a global telecommunication giant, T-Mobile. 

Helium Purchases wholesale data from T-Mobile and relies on a network of Helium hotspots to provide high-speed and quality data for users at cheaper rates.

Mobile users who utilize this hotspot qualify to earn $MOBILE tokens, while Helium rewards coverage providers with $HNT tokens. 

Users must possess a Helium SIM card and pay a monthly fee of $5 to access the full features available. This partnership will likely boost the value of the Helium ecosystem and HNT tokens. 

Helium Summit Moved To Barcelona, Creating Tension In Community That Might Cause HNT Price Retracement

On August 29, Helium gave a critical update to its users, stating that after holding talks with community leaders and network stakeholders, they decided to move their summit to Smart City Expo Barcelona.

Important Helium House Update: After much discussion with community leaders and Network stakeholders, we’ve decided to move the Helium Foundation’s first European event to Smart City Expo in Barcelona to align with the IOT community in Europe. Stay tuned for a registration link…

— Helium🎈 (@helium) August 29, 2023

The summit was originally slated for Amsterdam, but the developers stated that the move to Barcelona is to align with the IOT community in Europe. 

A member of the Helium community stated on Twitter that flights and hotels are already booked for Amsterdam. At the same time, another user complained that some hotspots were placed on a deny list. 

Half of Europe has been on denylist for a week. You'd have to think the algorithm they use to filter fraud is wrong. I am very disappointed!

— Végh Tibor (@VeghTibor1) August 30, 2023

This criticism could cause a negative reaction in the community and force a price retracement for HNT. 

Shouldn't you be concentrating on why so many genuine hotspots have been placed on the denylist? Surely this should be your first priority. 😡

— Gold coast (@Goldcoastco15) August 30, 2023

Golden Cross Indicates Price Recovery Ahead For HNT

HNT’s price is rising as it attempts to cross over the 50-day and 200-day Simple Moving Averages (SMA). 

The 50-day SMA formed a golden cross on August 28, indicating a return of the buyers to force a rally for the asset. 

Also, the Relative Strength Index (RSI) is in the neutral zone between the oversold region of 30 and the overbought region of 70. The RSI’s value is 44.77, and its sideways movement indicates price volatility for the asset. 

The Moving Average Convergence/Divergence (MACD) is below its signal line, showing that the sellers are still active. 

However, the fading Histogram bars indicate that a bullish recovery for the asset remains a possibility. 

$1.68 Resistance level Critical to HNT’s Rally

HNT has found support at the $1.63 price level and is attempting to break above the $1.68 resistance level as more buyers open long positions. 

If the bulls succeed, HNT will rally to the next resistance level of $1.73 and move to the $1.82 resistance level if they sustain their charge. However, the $1.86 resistance level is the realistic profit target for the coming days.

But while HNT faces price uncertainty, investors can use Sonik Coin’s speedy memecoin on presale. The newest stake-to-earn project, identified as the “fastest cryptocurrency,” aims to hit a $100 million market cap shortly.

$SONIK – 5 Days Left with Over $762,000 Raised – This Stake-2-Earn Project is Gearing Up to ZOOM Off

As the name implies, Sonik takes after the famous Sonic the Hedgehog animated character, seeking to quickly hit significant price gains, utility, and adoption. However, it is not affiliated with the Sonik character or franchise.

By running a stake-to-earn innovation, Sonik allows users to lock up a certain amount of $SONIK to support the project’s operations. 

This feature allows investors to donate their coins to a reward-stocking pool. Besides the APY rewards, this action decreases the total supply of $SONIK that will be available for trading on exchanges. Staking decreases selling pressure and a potential price surge for the token.

As fast as the project claims, more than 26.6 billion $SONIK have been staked in the smart contract, showing investors’ high support and enthusiasm toward the project.

Also, the presale commenced in mid-August and boasts over $763,000 in funds raised. With five days remaining, Sonik aims for an initial valuation of $2,098,547, with its token selling for $0.000014.

Engagement with its community via memes while allowing its users to stake their $SONIK holdings can boost the project’s utility and token value and attract more investors in the long run.

Also Read:

• Moneta Digital Price Prediction: MMXN Makes Little Gains, Yet Interest Is Highs – What Do the Whales Know?
• Sonik Coin Poised for 10x Gains – A Chance to Get in Early on the Next Big Meme Coin.
• Sonik Coin Price Prediction – SONIK Price Potential in 2023

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