In this Helium (HNT) price prediction 2024, 2025-2030, we will analyze the price patterns of HNT by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Helium (HNT) Current Market Status
What is Helium (HNT)
Helium (HNT) is the native utility token of Helium, a decentralized wireless Internet-of-things (IoT) network. HNT was launched in 2019. The token was created based on a burn-and-mint equilibrium (BME) model. HNT are burnt and converted to Data Credits (DCs) that users hold to access and use the network.
Helium operates on a proof-of-coverage (PoC) consensus algorithm. PoC relies on Honey Badger Byzantine Fault Tolerant (HBBFT). With this algorithm, the transactions are encrypted by a shared public key and can only be decrypted by an elected consensus group.
HNT tokens can be mined through ‘hotspots’, wireless devices that use radio waves. Miners mine HNT and create network coverage for IoT devices. Also, the network aims to achieve decentralized IoT communication
Helium 24H Technicals
(Source: TradingView)
Helium (HNT) Price Prediction 2024
Helium (HNT) ranks 56th on CoinMarketCap in terms of its market capitalization. The overview of the Helium price prediction for 2024 is explained below with a daily time frame.
HNT/USDT Right Angled Descending Broadening Wedge Pattern (Source: TradingView)
In the above chart, Helium (HNT) laid out a d right-angled descending broadening wedge pattern. A right-angled descending broadening wedge is a bullish reversal pattern. The pattern is an inverted ascending triangle because it is made up of two converging lines with a horizontal line for the resistance and a bearish downward slant for the support.
Within a descending channel, a trader could make a selling bet when the security price reaches its resistance trendline. An ascending channel is the opposite of a descending channel. Both ascending and descending channels are primary channels followed by technical analysts.
At the time of analysis, the price of Helium (HNT) was recorded at $7.00. If the pattern trend continues, then the price of HNT might reach the resistance levels of $7.117, and $9.032. If the trend reverses, then the price of HNT may fall to the support of $5.608.
Helium (HNT) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Helium (HNT) in 2024.
HNT/USDT Resistance and Support Levels (Source: TradingView)
From the above chart, we can analyze and identify the following as resistance and support levels of Helium (HNT) for 2024.
HNT Resistance & Support Levels
Helium (HNT) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Bitcoin (HNT) are shown in the chart below.
HNT/USDT RVOL, MA, RSI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the current Helium (HNT) market in 2024.
Helium (HNT) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Helium (HNT) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
HNT/USDT ADX, RVI (Source: TradingView)
From the readings on the chart above, we can make the following inferences regarding the price momentum of Helium (HNT).
Comparison of HNT with BTC, ETH
Let us now compare the price movements of Helium (HNT) with that of Bitcoin (BTC), and Ethereum (ETH).
BTC Vs ETH Vs HNT Price Comparison (Source: TradingView)
From the above chart, we can interpret that the price action of HNT is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of HNT also increases or decreases respectively.
Helium (HNT) Price Prediction 2024, 2025 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Helium (HNT) between 2025, 2026, 2027, 2028, 2029, and 2030.
Conclusion
If Helium (HNT) establishes itself as a good investment in 2024, this year would be favorable to the cryptocurrency. In conclusion, the bullish Helium (HNT) price prediction for 2024 is $12.745. Comparatively, if unfavorable sentiment is triggered, the bearish Helium (HNT) price prediction for 2024 is $2.680.
If the market momentum and investors’ sentiment positively elevates, then Helium (HNT) might hit $15. Furthermore, with future upgrades and advancements in the Helium ecosystem, HNT might surpass its current all-time high (ATH) of $55.22. and mark its new ATH.
This content was originally published by our partners at The News Crypto.