Despite the stable market momentum, Helium (HNT) showed strength, after which investors started investing in it. CoinGeckoThe token is up more than 21%, which is in contrast to the flat trajectory of the market. This comes after a cryptic post about Helium’s plans that could indicate a better future for the platform and its users.
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With this in mind, HNT remains an attractive investment for both users of the platform and those looking to profit in the long term. But with the market’s steady momentum, investors and traders should exercise caution as any volatility in the broader market could lead to a downturn.
Secret message increased investor interest on HNT
Abhay recently posted a cryptic message which is hinting at this Possible network upgrade soon. This led the community to speculate, with Abhay saying it would be a busy month for the network.
The hype generated by this post is quite high, as community members await the official announcement of the anticipated upgrade, which could happen soon.
1.0 – Launch a wireless network
2.0 – Scale Two Networks
3.0 – Scale all networksStay tuned, @helium pic.twitter.com/2aNUG8IyDe
— Abhay 🎈 (@abhay) August 16, 2024
Mobile carrier beta passes, expanding network reach
HIP 129 was passed three days ago, allowing all mobile hotspots to participate in the carrier beta. This will expand the reach of the carrier beta, which will impact network performance in the long run.
Helium network covers almost the entire United States CoverageThe community will see a surge in the number of users trying to offload the Career Beta. As of press time, over 58,000 users have joined since last week, a net gain of 5,122.
Data usage has also increased, with an additional 1.5 terabytes of data flowing through the platform.
Investors benefit from new opportunities for helium
The token is currently above the support level of $7.2, while the bulls are approaching the $8 threshold with confidence. With strong bullish sentiment supporting its trajectory, HNT is set to surpass this threshold in the coming hours or days. Thanks to Helium’s on-chain development, investor confidence is at its highest as they continue to accumulate the token.
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However, the Relative Strength Index (RSI) suggests that the momentum will slow down. But this could happen after crossing the $8 threshold. If this happens, investors and traders have a chance to reach $9 in the long term.
Considering the general market sentiment, HNT could see a slight drop, possibly dropping back to the $7-$8 price range, followed by a strong surge towards $9. This represents a price increase of about 22%.
However, investors and traders must remain market-conscious as any fluctuations in the broader market can impact the token’s trajectory in more ways than one.
Featured image via Live Science, chart via TradingView
