As a seasoned crypto investor with a knack for spotting promising opportunities, I find myself intrigued by the recent surge in Helium (HNT). Despite the market’s lethargic momentum, HNT has shown resilience and potential, making it an attractive investment not just for platform users but also for those chasing long-term gains.
Investors flock to Helium (HNT) after it showed strength despite the stagnating momentum of the market. According to CoinGecko, the token is up more than 21%, going against the market’s flat trajectory. This came after a cryptic post about Helium’s plans that might indicate a better future for the platform and its users.
Keeping this point in view, Helium Network Token (HNT) remains an alluring investment opportunity for both users on the platform and those seeking long-term profits. However, given the current slow pace of the market, it’s essential for investors and traders to practice caution. Any significant shift in the broader market could potentially result in a decline.
Cryptic Message Boosts Investor Interest On HNT
Recently, Abhay shared a cryptic update implying a potential network update could be on the horizon. This has sparked much discussion within the community, as Abhay himself mentioned that the network will likely be quite active during the upcoming month.
As a long-time member of this community, I can attest to the buzz surrounding the upcoming announcement. Rumors of an impending upgrade have been circulating for weeks now, and the anticipation is palpable. The excitement in the air is reminiscent of the days leading up to a major product launch at my previous job. The sense of possibility, the potential for growth and improvement – it’s all here. I can’t help but feel that this upgrade could be a game-changer for me and my fellow community members. Fingers crossed for an official announcement soon!
1.0 – launch a wireless network
2.0 – scale two networks
3.0 – scale all networksstay tuned, @helium
— abhay (@abhay) August 16, 2024
Mobile Carrier Beta Passed, Expands Network Reach
129 HIP (High Impact Policy) was recently enacted, opening up the Carrier Beta to include all mobile hotspots as of three days ago. This expansion increases the scope of the Carrier Beta, and over time, it will impact the network’s overall performance.
Across most of the U.S. mainland, Helium network coverage is widespread, leading to an increase in users looking to unload the Carrier beta version. Currently, more than 58,000 users have signed up since last week, representing a surge of 5,122 new members.
The amount of data being used on the platform has seen a rise, with an extra 1.5 terabytes now being transmitted daily.
Investors Win With New Opportunities For Helium
At present, the token is situated slightly above the $7.2 support level, with bullish investors moving closer to the potential $8 resistance point. Given the robust optimism surrounding its direction, HNT appears poised to breach this resistance in the upcoming hours or days. This confidence among investors is bolstered by Helium’s ongoing on-chain advancements, leading them to increasingly accumulate the token.
However, the relative strength index (RSI) suggests that the momentum will slow down. But this may occur well after a breakthrough on the $8 ceiling. If this occurs, investors and traders have a shot at $9 in the long term.
Considering the overall mood of the market, Horizen Network Token (HNT) may temporarily dip, potentially settling between $7 and $8 per token. However, this could be followed by a robust surge aiming for around $9, which represents an approximately 22% price increase.
Investors and traders ought to keep a close eye on the market, because even small shifts in the overall market trend can significantly impact the direction a token may take.
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2024-08-18 20:10