Investors are moving towards Helium (HNT) stock after it showed strength despite stagnant market momentum. According to Queen GeckoThe cryptocurrency surged more than 21%, bucking the trend of a stable market. This came after a vague post about Helium’s plans that could point to a better future for the platform and its users.
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With this in mind, HNT remains an attractive investment for both platform users and those looking to make long-term gains. However, with market momentum stagnating, investors and traders should be cautious as any volatility in the broader market could lead to a slowdown.
Mysterious Message Boosts Investor Interest in HNT
Abhay recently posted a cryptic message hinting at Potential network upgrade Coming soon. This has the community speculating, with Abhay stating that this month will be a busy one for the network.
The buzz created by this post is huge as community members await an official announcement of the expected upgrade that might happen soon.
1.0 – Launch a wireless network
2.0 – Expanding the scope of the two networks
3.0 – Expanding to all networksStay tuned, @helium pic.twitter.com/2aNUG8IyDe
— Abhay 🎈 (@Abhay) August 16, 2024
Pass the mobile carrier trial, expand your network
HIP 129 was approved three days ago, allowing all mobile hotspots to participate in Carrier Beta. This will expand the scope of Carrier Beta, which will impact network performance in the long run.
With a helium network spanning nearly the entire mainland United States, CoverageThe community will notice an increase in the number of users trying to download the Carrier beta. As of writing, over 58,000 users have joined since last week, representing a net increase of 5,122 users.
Data usage also saw a significant increase with an additional 1.5TB of data flowing through the platform.
Investors Win with New Helium Opportunities
The token is currently holding above the $7.2 support level as bulls confidently approach the $8 ceiling. With strong bullish sentiment supporting its path, HNT is set to break through this ceiling in the coming hours or days. Thanks to the on-chain developments made by Helium, investor confidence is at an all-time high as they continue to accumulate the token.
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However, the RSI indicates that the momentum will slow down. But this may happen long after the $8 ceiling is broken. If this happens, investors and traders have a chance to reach $9 in the long run.
Given the general market sentiment, HNT could see a slight pullback, possibly returning to the $7-8 price range before a strong rally towards $9. This represents a price increase of around 22%.
However, investors and traders should pay attention to the market, as any volatility in the broader market could affect the token’s trajectory in more than one way.
Featured image from Live Science, chart from TradingView