Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Helium token shows strong gains with potential rise to $20 by 2025

Helium token shows strong gains with potential rise to $20 by 2025

GrafaGrafa2024/09/02 23:55
By:Mahathir Bayena

Helium (CRYPTO:HNT), the native token of the Helium network, has recently shown strong performance in the cryptocurrency market.

Over the past week, HNT has gained 14%, and over the past month, it has surged by 59%, leading the market in terms of gains.

At its current price of $7.56, the token is trading above significant technical indicators, suggesting a bullish trend.

According to technical analysis, HNT is currently positioned above both the Leading Span A and B of the Ichimoku Cloud, a technical indicator used to identify market trends and support levels.

When an asset trades above these levels, it is often seen as a bullish signal, indicating potential upward momentum.

Additionally, HNT has also surpassed both its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA).

The 20-day EMA reflects the average closing price of the asset over the past 20 trading days, while the 50-day SMA provides a longer-term perspective, representing the average closing price over the past 50 days.

The fact that HNT's price is above both these moving averages signals a strong bullish trend, with both short-term and medium-term momentum aligned for potential gains, based on technical analysis.

Analysts are optimistic about HNT’s future.

According to a crypto analyst known as AMCryptoAlex, HNT could reach $20 by the first quarter of 2025.

This forecast is based on increasing adoption and a token burn mechanism that reduces HNT's circulating supply, which could further support the token's price.

If the current uptrend continues, the price could rally to $7.92.

However, any minor pullbacks could see HNT testing its support levels at $6.84 or even lower.

Overall, the technical outlook and market sentiment around Helium suggest a potential for further gains, with an eye on critical support and resistance levels for future price movements.

At the time of reporting, the Helium (HNT) price was $7.56.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like