The post Helium’s Price Could Double in the Coming Weeks appeared on BitcoinEthereumNews.com.

Helium token ($HNT) is exchanging hands at $7.35, down by 3% in the last 24 hours. In the last 30 days alone, HNT has seen remarkable growth. It has increased by 14.51% and 396.41% over the last 365 days. Ongoing rallies and optimistic sentiments have paved the way for another massive rise. Speculation suggests that HNT could rise two-fold in the weeks to come. In other words, it could venture out to target the milestone of at least $14. Some of the key factors that are driving the price of HNT are demand, buying momentum, and pattern formation. For starters, the demand for Helium tokens has surged amid the dip that is briefly appearing on the price chart. It stems from the anticipation that the token will eventually respond positively to rate cuts. BTC and ETH have already started marking upticks in the value. The last 24 hours saw dips, but the later valuation is positive. Next, constant buying momentum shows a sense of confidence among investors. They are confident in Helium’s ecosystem structure. Last seen, the pattern formation took the shape of a double bottom. It was triggered when investors were accumulating at the rate of $3 per token. Market sentiments are bullish, as evidenced by 50% green days in the past month. The Fear & Greed Index is at 54 points, and the 14-day RSI is 53.38 at press time. For HNT, the 50-day SMA of $6.93 is the most effective. It signals that there is an uptrend at the moment for HNT. With $5.95, the 200-day SMA cements it further. Every time HNT closes positively, bullish sentiments also emerge. The last 30 days alone have seen HNT close the day on a higher note. It was able to bank $7.01 on August 26-27, 2024, and $7.07 on…

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Filed under: News - @ September 25, 2024 4:17 am