The Helium price has increased by over 7% in the last 24 hours, making it one of the best-performing cryptocurrencies today. This rise is driven by positive news surrounding the HNT token.
Helium’s growing ecosystem shows strong adoption
Helium is a decentralized wireless network launched in 2019. It allows people and devices to connect to the Internet and earn HNT tokens. Created to build a decentralized network, Helium has recently migrated to the Solana blockchain to improve its infrastructure and services.
This transition lets Helium (HNT) take advantage of Solana’s speed and efficiency, which should help enhance global connectivity and support growth in infrastructure projects, including Render Network.
Read more: 3 Promising Solana Memecoins to Buy as SOL Aims for a New ATH
Recently, the adoption of Helium’s platform and its HNT native token has grown. iTrustCapital, a prominent service that enables users to trade cryptocurrencies, gold, and silver in retirement accounts, announced that users can now buy and sell Helium tokens.
By listing the HNT token, iTrustCapital indicates that more investors are interested in adding it to their portfolios.
Helium also offers a cell phone plan for $20 per month. This plan includes unlimited talk, text, and data. It works through a partnership with T-Mobile and provides nationwide coverage without a contract.
On December 21, Arman Dezfuli-Arjomandi, a member of the Helium Foundation board, shared that the number of U.S. cell phone subscribers using Helium has surged unexpectedly.
As of December 20, 349,284 people were unknowingly using the service, a big jump from just 5,488 subscribers six months earlier. This shows how quickly Helium’s network is growing and indicates that many users may not even realize they are using Helium’s service.
Helium price prediction: technicals suggest a bearish outlook
While there are some positive developments in the Helium ecosystem, current price charts for HNT/USDT show signs of a potential downtrend.
Currently, Helium (HNT) is trading for roughly $7.32, with a 24-hour trading volume of around $31.9 million. The price increased by 7.28% on the last day.
TradingView data shows that the HNT/USDT trading pair is under downward pressure, suggesting the recent surge may be temporary. Technical indicators suggest that Helium prices may drop in the near-term.
Immediate support is near $7.00, matching the 50-day Simple Moving Average. If this level breaks, the next important support is around $6.49, which aligns with the 200-day Exponential Moving Average.
On the resistance side, the first key level to monitor is $7.82, as shown by the 30-day Simple Moving Average. If there is a short-term rebound, the $8.08 level, indicated by the Ichimoku Base Line, could serve as strong resistance.
Traders need to be cautious because the oscillators show weakening momentum. If the price falls below $7.00, selling pressure could increase, pushing prices lower. On the other hand, if the price rises above $8.08, it could indicate a potential recovery.
While Helium’s price may decline in the near term, it is likely to do well in the long run as the Helium ecosystem gains more adoption and popularity.
Read more: 3 Under-the-Radar Crypto to Buy to 10x Your Money in 2025
