Can Helium (HNT) Cross $10 in the Next Few Months?

As a blockchain-based protocol, Helium is popular because it is one of the few projects that focus mainly on the Internet of Things industry. It has a Helium hotspot that works as an internet router. These nodes provide the users with cheaper and broader internet access.

It runs on a global wireless network and provides long-range connectivity with helium hotspots. Most crypto projects are based on decentralized finance applications and non-fungible token segments, but only a few of them are working on IoT.

These hotspots are the pillar of this network that provides connectivity to all IoT devices. They provide wider coverage and rewards to the owner of such hotspots. These nodes allow IoT devices to send and receive information with Helium decentralized blockchain technology. When users plug hotspots and run the system, they get HNT as a reward.

LoRaWan is a distributed architecture on the physical layer LoRa that provides wireless communication between IoT devices. LongFi is an important feature of this Helium network that combines blockchain and LoRaWan architecture. It runs on Proof of Coverage consensus that communicates with different hotspots (or nodes) via radio frequency using a mechanism called PoC Challenge.

Overall, Helium has a huge potential to thrive in the blockchain market of the IoT segment. If you are interested in investing in HNT long-term, read our Helium price prediction for a better investment decision.

At the time of writing, HNT was trading around $5.02, forming lower lows. The previous low was around $6.9, but the recent low is around $3.5. The Helium candlesticks are trading around $5.5 and $3.5. So, you can expect the price will consolidate within this range, at least for the short term.

The candlesticks are forming in the upper Bollinger Bands, which suggests a slight positive perspective for the short term. You can invest for the short term, but HNT is risky for the long term.

After hitting an all-time high of $55.22, Helium is now trading around the level of $5. On the weekly chart, $10 was strong support, but now it works as a resistance, so you invest when it crosses $10 decisively.

HNT candlesticks are forming in the lower BB, and RSI is below 40, which do not suggest bullishness for the long term. The only positive sign is that the price of HNT has been consolidating in the last five months, so it can be an indication of a change in momentum. Still, you should not invest at this time, speculating a good profit in the next few years.

Source