Helium (HNT) which way in the coming years? Can prices rise like a balloon

Major upgrade to come once Helium migrates to Solana.
HNT nailed the number one spot on the ranking of altcoins that outperformed BTC.

The native token of Helium, HNT, has clinched the first position on the ranking of altcoins that outperformed BTC, as per the data of LunarCrush. Helium is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Its goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its genesis.

Its essence was device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities. Network participants purchase Hotspots, a combination of a wireless gateway and a miner, or can build their own. Each set-up provides network coverage over a certain radius and also mines HNT.

Price trails for next year

The price for HNT has moved in a downward momentum for the whole year and has tested several support zones from time to time. The opposite of this is observed in the volume, where escalating bars are recorded. A horizontal movement for the whole of 2022 and continuous price consolidations suggest prices may witness a rally in the coming months. Where MACD records sustained buying, RSI shows sellers actively participating, supporting the above notion.

Selling orders were recorded near $19.5 and $7.5, whereas several buying orders were placed at $23.5. If HNT prices break out above the $8 range, an optimistic outlook can be formed. The coming year may encounter bulls regaining dominance, and prices may rally to $40, as per its previous swing.

In 2023, Helium plans to migrate to Solana by Q1, as its core development team was building out the complex infrastructure for staking multipliers, delegating to subDAO, Helium chain state, and services to support its smart contracts. Amid these new upgrades and promising returns, holders are optimistic that HNT may succeed and make the owners proud.

If, say, you invest $100 in HNT at current trading prices of $1.5, you will hold around 67 HNT tokens in your wallet. By the time prices reach the target of $40, these tokens will be worth $2680 and yield an ROI of more than 2500%, which is like a golden trophy for the prevailing situations. The future returns are very promising and may attract long-term and short-term rational investors.

Conclusion

The plans for the coming year can lure many new users to HNT and the network. With the development in the industry, Helium may also climb up the ladder and reach the predicted price levels. Support zone of $0.75 can be relied upon to accumulate the token.

Technical levels

Support level: $0.75

Resistance levels: $40.9 and $552.87

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.