Bitcoin

Helium Price Prediction: HNT Soars 13% as World’s First AR/VR Cryptocurrency Presale Cost Reaches $6 Million

adminApril 29, 2024

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Helium prices have surged 13% over the past 24 hours, trading at $5.141 as of 1:41 a.m. ET, with volume surging more than 160%.

The surge put HNT on the list of top daily gainers along with GTAI, NVIR, GLM and CAW.

According to some, this surge in decentralized blockchain-based networks for Internet of Things (IoT) devices is due to a reawakening among altcoins, citing capital circulation in the BTC market.

If this is true, it would not be surprising considering that altcoins tend to rebound on renewed optimism in the market following BTC halvings. However, in the case of BTC, the impact tends to be long-term, felt approximately 518 days after the event, according to Rekt Capital, cryptocurrency analyst for X.

Nonetheless, this surge occurred after the COO of the Helium Foundation spoke about DePIN and demonstrated how the Helium community can solve real-world connectivity problems.

The DePIN project, which stands for Decentralized Physical Infrastructure, gained momentum on the Solana Chain. This is because blockchain technology continues to actively incentivize community building in the real world.

The HNT token has been in the spotlight, with helium prices leading the Solana sector over the past 24 hours. We have now seen support at $3.420 and are making significant progress towards the next target at $7.320. Whether this rise is sustainable will depend on whether BTC remains strong.

More specifically, the surge in helium prices can be attributed to several key factors. First of all, there has been a significant surge in demand for decentralized connectivity.

As Helium Mobile grows in popularity, so does its price. This trend is likely to continue as more industries join blockchain-based solutions.

Helium price prediction for HNT to benefit from the play of supply and demand

Helium prices are recovering after falling nearly 70% from a market high of $11.221 and bottoming out at $3.420. At current prices, helium prices appear poised to rise in the long term.

Evidence of this is shown by the yellow spikes in the volume profile (right). This means there will be plenty of bulls waiting to interact with HNT if the price moves 1 ounce north of Sunday’s high of $5.620. If this happens, helium prices could continue northward if buying pressure increases to overwhelm bearish seller momentum waiting to sell near the psychological $6,000 level.

The volume node also shows that there is a significant swarm of HNT bulls waiting to buy the token if the price moves above the 50% Fibonacci placeholder of $7.320. Buyer momentum above this level could send the altcoin further north, potentially reclaiming the all-time high of $11.221. Such a move would represent a rise of nearly 125% from current levels.

In addition to the volume profile, two other important technical indicators suggest the possibility of further rise in helium prices. First of all, the relative strength index (RSI) is rising, which means upward momentum. If the bulls can maintain the average level above 50, the upside potential of the altcoin will be revitalized.

Additionally, the Awesome Oscillator (AO) indicator is rising and records a steady streak of green histograms heading towards positive territory. This suggests that optimistic sentiment is growing.

helium pricehelium price

TradingView: HNT/USDT 1-day chart

converse case

On the other hand, if bears recover the market on the back of early profit taking, helium prices could fall. A candle closing below the psychological level of $4,000 would trigger more sell orders and invalidate the bulls in the process.

Meanwhile, 5SCAPE, the world’s first AR/VR cryptocurrency pre-sale, is also making headlines with sales exceeding $6 million with HNT.

A promising alternative to helium

The 5th Scape AR/VR ecosystem will unleash the next wave of gaming innovation in the VR sector, enabling the Web3 sector to move into tomorrow. Powered by the 5SCAPE token, 5th Scape is the industry’s first AR and VR ecosystem designed to connect the smartest people.

The platform aims to become the architect of alternate realities by creating an integrated system equipped with both hardware and software. There’s also a Developer Center that gives builders access to the right resources to bring their worlds to life and unleash a new wave of gaming innovation. With pre-sales still underway, you can become an early adopter in this fledgling ecosystem.

Token holders enjoy the hyper-realistic gaming world of virtual reality that offers a variety of gaming experiences. From adrenaline-pumping combat to precision archery, high-speed racing, and immersive sports, there’s plenty to enjoy.

To date, more than $5.67 million of the pre-sale target of $6.25 million has been achieved. Each 5SCAPE token sells for $0.00327, but a 15% price increase is expected soon.

Visit and purchase 5SCAPE on the official website here.

Also read:

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adminApril 29, 2024

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