Can HNT Crypto Show A Colossal Surge Next?

The Helium Network is a wireless network for IoT devices that uses Hotspots, which anyone can buy or make, to provide coverage and earn HNT, the network’s currency. 

The network uses a special way of agreeing on the state of the network, called proof-of-coverage, that works well even when the connection is not very good. It is ideal for IoT devices that need to communicate. 

Data Credits are not tradable and are linked to specific users, who can get them by destroying HNT. Data Credits have a fixed value in USD. 

The Helium Network has a system that uses different kinds of currencies, such as HNT and Data Credits, to keep its economy stable.

Moreover, the current market price of Helium crypto has revealed a sign of recovery as the price is trying to sustain a crucial level of around $8.0 on the chart.

The crypto price structure seems like it is set for a colossal surge as it gears up to crack the resistance level by making a higher structure and rocketing to new peaks from the current support zone.

Can HNT Crypto Price Show A Significant Surge?

The HNT asset is exhibiting bullish strength and rising capacity as it holds above major EMAs and is trying its best to strike upwards from the dynamic support of the EMAs.

Furthermore, the asset is displaying bullish behavior as both lines are above the zero line. MACD is at 0.396, the signal line is at 0.536, and the histogram is at -0.140.

Similarly, the RSI is not near the 70 level yet and is currently at 51.04, and the 14-SMA is at 64.02, meaning that the asset is not facing much resistance and can extend its gains in the future session.

Correspondingly, the Helium asset is showing bullish signs and has the potential to grow further. It has performed well in the past month, and quarter by 21.97%, and 212.14% respectively, indicating a strong uptrend.

The HNT crypto is experiencing a surge of 4.06% in the last 24 hours, trading at $8.499. The trading volume on all trading exchanges in the last 24 hours is 16.07 Million, and the market capitalization is 1.37 Billion.

Therefore, if the demand for the remains high, the asset price could bounce back from the current level. Then the next goal for the price could be to reach $12.50, and in-between $10.00.

Another possibility would be, if the crypto price fails to stay above the $8.0 level, it could decline further.

Summary

The Helium crypto shows bullish price action and technical tools highlight that the price is not over-bought yet and has space for more bullishness in price. Therefore, the price can reach the resistance up to 10. And the support would be $8.0.

Technical Levels

Support Levels: $8.0

Resistance Levels: $10.00

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.