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The Helium price has surged by 53% in the last 24 hours to $4.22 as of 5 a.m. EST, while its trading volume skyrocketed by 992%.
The HNT price exploded after the project unveiled its Helium Mobile service, which combines the Helium Network. This internet-of-things project uses Solana’s blockchain and a nationwide 5G network.
According to the project’s announcement on Tuesday, the new initiative will roll out a nationwide plan in the US, offering unlimited data, text, and talk. The entire package will only cost $20 per month.
Helium Mobile will be the world’s first crypto carrier. Helium’s statement calls it a game-changer for what it offers and its approach to launching the 5G nationwide network.
Helium Price Prognosis As Project Unveils Unlimited Nationwide Phone Plan
The project’s price exploded after the Helium Mobile announcement, initially sending it to $4.81 at about 11.50 PM EST, only to correct to a support at $4. After that, the price surged again but was rejected by resistance at $4.50, leaving it at the current $4.22.
The chart below shows that a significant widening of Bollinger bands followed the price and the project’s trading volume. In contrast, the project’s RSI score showed that the HNT token had entered the overbought territory.
The Bollinger bands remain pretty broad at the time of writing compared to the situation seen in the past several days. However, the RSI score shows that the price is now entering the oversold territory, as many moved to cash in on the surge.
Even so, wider bands suggest that bullishness still surrounds the token. The project will likely retest one of the minor resistances at $4.3 or $4.5.
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