Helium Mobile

Rose

bullish

Bitcoin

Helium

When writing, the crypto prices have mainly fueled mixed investor sentiments. Bitcoin (BTC) held firm at the $59K level, whereas Ethereum traded near $2,595. Helium’s native HNT token emerged 4% in green, among the day’s top gainers.
Furthermore, the global crypto market cap witnessed a 0.82% increase in value to $2.08 trillion. However, the total crypto market volume saw a 22.72% decrease to $57.23 billion.
Helium (HNT) ranked 56th in the crypto landscape, with a market cap of $1.139 Billion. It increased by 7% for the current trend continuation, a higher bullish interest. However, it also has a low liquidity present at 2.41%.
<h2 class="wp-block-heading" id="h-are-more-bulls-on-the-way-to-extend-ongoing-rally">Are More Bulls On The Way To Extend Ongoing Rally?</h2>
Per the Coinglass, an increase in the derivatives trading activity of the HNT for the current trend was registered over the last 24 hours.&nbsp;
The open interest in <a href="https://www.thecoinrepublic.com/price-prediction/helium/" rel="noopener noreferrer nofollow">Helium</a> rose by 5%, with OIs reaching $6.68 Million. This was followed by its derivatives trading volume amounting to $10.70 Million.
Moreover, it was observed that the increased derivatives active were for the incoming bull pressure, which could extend the rally.&nbsp;
Intraday’s liquidation data further confirmed that the bullishness was rising in Helium (HNT). The short liquidation was higher at $2.87K, and the longs were less at $574.13.
<h2 class="wp-block-heading" id="h-what-does-the-helium-hnt-price-signify">What Does the Helium (HNT) Price signify?</h2>
In the past 45 days, the breakout out of the falling wedge had led HNT price to grow by more than 145%, where at press time, it traded at $7.136.
In the past, the Helium (HNT) had a robust bull run from the last quarter of 2023 and the first quarter of 2024. This took its price to a swing high of $11.16 from the low of $1.36.&nbsp;
However, the peak invited profit bookers, which showcased the mighty start of the bearish downward trend after March 2024.&nbsp; 
<a href="https://in.tradingview.com/chart/HNTUSD/yalCSUeh-What-Does-the-Helium-HNT-Price-signify/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/u/Sam_TCR/" rel="noopener noreferrer nofollow"></a><a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"></a> 
Since that peak, the asset has been continuously declining. Also, the intense sell-off spanning more than 150 days led to a narrowed declining wedge.&nbsp;
This turned out to be a bullish pattern, precisely falling wedge after the price broke out on July 15th from the upper border.
<h2 class="wp-block-heading" id="h-indicator-overview-of-helium-hnt">Indicator Overview Of Helium (HNT)</h2>
A look at its 50-day and 200-day EMA bands signified that it acted as dynamic support with the recent liquidity grab candle on August 5th.
Other indicators, like MACD, have a growing histogram depicting current bullish momentum, where the graph indicated 0.109.&nbsp;
The signal line was at 0.594, and the main MACD line was at 0.701 and had a bullish cross. The momentum was above the zero line, which signified that the price was in the bullish vicinity.
Similarly, the RSI was at 65.19, above the 14-SMA of 62.41. The RSI was nearing the overbought, which could be a concern for the ongoing surge. Since the room seems low, the surge could extend briefly.
<h2 class="wp-block-heading" id="h-the-reason-for-grown-optimism-in-helium-hnt">The Reason For Grown Optimism In Helium (HNT)</h2>
Launched in 2023, Helium Mobile has made significant strides in the telecommunications sector. It reinforced its position in the market.&nbsp;
The surge in open interest in HNT signaled a growing investor interest. This indicated that Helium is being recognized as a valuable asset in its own right rather than just a follower of Bitcoin’s trends.&nbsp;
Similarly, this boost in investor confidence could potentially drive HNT’s price higher shortly as long as it maintains its appeal and draws attention.
The post <a href="https://www.thecoinrepublic.com/2024/08/17/helium-hnt-price-rose-above-100-in-45-days-whats-next/" rel="noopener noreferrer nofollow">Helium (HNT) Price Rose Above 100% In 45 Days: What’s Next?</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Helium (HNT) Price Rose Above 100% In 45 Days: What’s Next?

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