bullish

Bitcoin

Helium

<p class="is-style-lead">Helium, a blockchain-based network designed for the Internet of Things, experienced a price surge of 12% on Aug. 10 morning, making it one of the leading gainers in the crypto market.</p> 
<p>At the time of writing, Helium (<a href="https://crypto.news/price/helium/" target="_blank" rel="noreferrer noopener">HNT</a>) was still up 10%, exchanging hands at $6.5 per price data from crypto.news. The crypto asset’s daily trading volume jumped by 9%, hovering around $29.7 million, while its market cap stood at $1.1 billion, ranking it 68th among the top largest cryptocurrencies.</p> 
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 <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/08/HNTUSDT_2024-08-10_20-32-25.png" alt="Helium secures top gainer spot with 12% surge in 24 hours - 32" class="wp-image-14290827">
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  HNT 24-hour price chart | Source: <a href="https://crypto.news/price/helium/" target="_blank" rel="noreferrer noopener">crypto.news</a>
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<p>The token’s price has jumped by 80% since its drop to $3.65 on Aug. 5, when the <a href="https://crypto.news/bitcoin-falls-below-50000-is-a-black-swan-coming-to-the-crypto-market/" target="_blank" rel="noreferrer noopener">crypto and stock markets crashed</a>, leading to over <a href="https://crypto.news/crypto-liquidations-surpass-1b-amid-market-wide-turbulence/">$1 billion in liquidations</a>. </p> 
<p>Despite its recovery to levels last seen on March 21, HNT is still down 88% from its all-time high of $55.2 recorded in November 2021.</p> 
<p>Founded in 2013 by Helium Inc., <a href="https://crypto.news/tag/helium/" target="_blank" rel="noreferrer noopener">Helium </a>enables wireless communication for IoT devices worldwide through its decentralized blockchain network. This model provides a scalable and affordable alternative to traditional telecom services by empowering individuals to host network points using Hotspots.</p> 
<p>The latest price jump comes following an Aug. 9 announcement from Helium that two major U.S. carriers have started testing to offload their traffic onto the mobile network.</p> 
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   <p lang="en" dir="ltr">Carrier Has Arrived 👀🥁<br><br>2 large US carriers have initiated tests to offload their traffic onto the <a href="https://twitter.com/helium?ref_src=twsrc%5Etfw" target="_blank" rel="">@Helium</a> MOBILE Network, and the results are lighting up the charts!<br><br>Decentralized networks are here to support existing telcos, and the big players are in. Let's go! 🔥 <a href="https://t.co/h2qIEkRGML" target="_blank" rel="">pic.twitter.com/h2qIEkRGML</a></p>— Helium🎈 (@helium) <a href="https://twitter.com/helium/status/1821968144422072814?ref_src=twsrc%5Etfw" target="_blank" rel="">August 9, 2024</a>
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<p>According to charts, approximately 307,860 subscribers from these carriers are participating in the beta offload program.</p> 
<p>The participation of these major carriers emphasizes the potential of decentralized infrastructure, with initial results showing promising trends, as demonstrated by the impressive performance metrics reflected in the charts.</p> 
<p> You might also like: <a href="https://crypto.news/crypto-at-risk-of-macro-pressure-with-no-catalysts-says-coinbase/"> Crypto at risk of macro pressure with no catalysts, says Coinbase </a> </p> 
<h2 class="wp-block-heading" id="helium-could-see-a-reversal-from-current-highs">Helium could see a reversal from current highs</h2> 
<p>Notably, Helium’s latest price positions it above the upper Bollinger Band at $6.4100, the middle band at $5.1526, and the lower band at $3.8953. </p> 
<p>This suggests that HNT has experienced a substantial rise to step outside the typical upper limit of its trading range.</p> 
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  <img loading="lazy" decoding="async" width="928" height="544" src="https://crypto.news/app/uploads/2024/08/HNTUSDT_2024-08-10_20-19-35.png" alt="Helium secures top gainer spot with 12% surge in 24 hours - 33"> 
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  HNT Bollinger Band and RSI – Aug. 10 | Source: <a href="https://crypto.news/price/helium/" target="_blank" rel="noreferrer noopener">crypto.news</a>
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<p>While the price surging past the upper Bollinger Band might indicate initial signs of an overbought condition, the extent to which it has exceeded this band typically signals a strong bullish momentum. </p> 
<p>This could suggest that there might be additional room for growth before encountering resistance or a possible retracement.</p> 
<p>Additionally, the Relative Strength Index is currently at 69. This indicates that the cryptocurrency may soon reach the overbought level, suggesting a potential retracement could be on the horizon.</p> 
<p>However, market analysts remain bullish on Helium’s prospects.</p> 
<p>In an Aug. 10 X <a href="https://x.com/JavonTM1/status/1822058642566209656" target="_blank" rel="">post</a>, analyst Javon Marks noted that Helium has broken out of its secondary setup, indicating a strong upward trend, which may lead to a potential jump in HNT to $52.76, with a potential rise of over 651%.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24HNT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$HNT</a> is flexing its muscles in the market today. Presently, it has validated its support at 4.07$ and is moving towards our subsequent target of 8.3$ with significant volume. Anticipating Bitcoin to stay bullish too.<br>There's been a 680% gain gain on it in previous instances. <a href="https://t.co/Dvfb8Omx22" target="_blank" rel="">pic.twitter.com/Dvfb8Omx22</a></p>— Decilizer (@decilizer) <a href="https://twitter.com/decilizer/status/1822140508946247739?ref_src=twsrc%5Etfw" target="_blank" rel="">August 10, 2024</a>
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<p> Read more: <a href="https://crypto.news/celestia-tia-helium-hnt-lead-gainers-as-bitcoin-retests-55k/"> Celestia, Helium lead gainers as Bitcoin retests $55k </a> </p>

Helium secures top gainer spot with 12% surge in 24 hours

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