Helium Price Prediction as HNT Price Falls Under $5.50 – Can HNT Reach $10?
The Helium (HNT) price is pulling lower after reaching above $5.50 earlier in the session, with some asking whether the cryptocurrency might soon push higher back towards $10.
Helium is a DePIN network that leverages a decentralized global network of wireless hotspot providers who double up as miners.
After dipping as low as the $3.40s last month, the Helium price was able to recover above $6.0 last week.
But bullish momentum has since faded. The Helium price has been unable to hold above its 50DMA, last at $5.40, for any sustained time.
Still, chart analysis suggests that the March to April bearish trend has been snapped.
The Helium price snapped this downtrend in late April. And this downtrend has since gone on to form short-term support.
That’s a sign that, while a new bull run may not be imminent, the latest bearish phase is likely over.
For a new push to yearly highs above $10 to begin, HNT needs to break above its 50 and 200DMAs.
Both of these are sat between $5.40 and $5.70. A Convincingly breakout above $6.0 should send the signal that these levels are gone.
The next major area to target would be the $8.0 balance zone, followed by $10.
Helium’s tiny market cap of last only around $860 million suggests there is plenty of room for upside. $10 is easily achievable.
However, whether HNT will be a long-term successful invest remains highly speculative. Helium’s DePIN network is yet to secure any meaningful global adoption.
Investors tempted to jump into a risky, speculative coin like HNT obviously have a high-risk tolerance.
This appetite towards risk might be better served with a different strategy that, while also risky, has higher upside potential.
The strategy in question is presale investing, which involves buying the tokens
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