HNT pumps 34% as traders flock to this Bitcoin cloud mining platform before time runs out

adminDecember 16, 2023

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Helium prices have surged 34% in the past 24 hours, trading at $8.36 as of 5 a.m. EST, with volume surging to $57.26 million.

Helium’s price has soared since the project recently launched Helium Mobile, a $20-a-month phone plan available across the United States. This plan offers unlimited data, text, and calls for $20 per month.

Here it is🔥
Nationwide $20/month unlimited phone plan now available!
The average American spends $157 a month on their cell phone plan, but starting today, anyone in the U.S. can sign up for Helium Mobile and say goodbye to expensive plans.🙌
Read the news: https://t.co/qXWCpm6zbo
symptom… pic.twitter.com/A2hqPppCMB
— Helium Mobile (@helium_mobile) December 5, 2023

The project’s connectivity services have been shown to be a cost-effective alternative to traditional service providers. Before Helium Mobile, the average U.S. citizen spent approximately $157 per month on phone plans from various service providers.

The new connectivity service uses Helium’s 5G network to help users set up mini-cell towers and boost network coverage.

According to a statement from the company, Helium Mobile Hotspot allows subscribers to install and own a mini cell tower, eliminating blind spots by allowing anyone to become a builder and set up a hotspot to extend the network for themselves and the wider community. They say you can do it.

just my @helium_mobile hotspot #LFG #helium #HeliumMobile #helium #Cryptocurrency #public service pic.twitter.com/gSNbCldbZ4
— ☀️MaknBank.Crypto 🪝 (@makn_bank) December 8, 2023

Helium price outlook following the launch of the monthly unlimited plan

A sharp surge in the price of helium pushed the token to $8 this morning, briefly breaking this resistance level before heading towards the next resistance level of $8.50. However, before reaching this level, the token price was rejected at $7.87 and attempted to bounce back.

Unfortunately, resistance at $8 did not allow this for a second time and the token now remains just below it.

With the launch of Helium Mobile, the project is expected to see significant growth in the long term, making it a good long-term investment.

However, in the short term, it is more difficult to predict the next move.

The hype around the network’s launch is still very strong, meaning there is fundamental reason to support the idea that HNT’s price will continue to grow.

On the technical side, several indicators, such as the broad Bollinger Bands, suggest the same thing.

helium price chart

However, HNT’s Relative Strength Index (RSI) suggests that the token has entered deep into overbought territory, which is likely why the price surge has lost steam.

Buyers saw an opportunity to cash in before prices fell, and many took it, halting the rally.

Looking ahead, the HNT price could see a correction down to $6, where it changed from resistance to support, where it would have the opportunity to bounce back and attempt another rally.

However, if the bullish pressure increases faster, the token could avoid a major decline and make another attempt to break the $8 resistance.

Accordingly, HNT’s Average Directional Index (ADX) has recently surged above 60, indicating that the coin still has momentum.

As a result, the bullish trend is likely to continue in the coming days and weeks, potentially pushing HNT towards $10 resistance.

A promising alternative to helium

HNT holders benefited greatly from holding the token at the launch of Helium Mobile, but there is a project that could potentially deliver even greater returns when the time is right.

The project in question is called Bitcoin Minetrix (BTCMTX), a cloud mining platform for Bitcoin.

#BTCMTX We provide reliable cloud mining solutions for everyone #Cryptocurrency mania.
Past concerns about high hardware costs and deceptive cloud mining scams have deterred many from entering this field.
This decentralized method ensures a transparent and safe mining journey.🔒 pic.twitter.com/I600MjT8HE
— Bitcoin Minetrix (@bitcoinminetrix) September 25, 2023

The project has a token, BTCMTX, that users can purchase and stake. By doing so, you will receive credits that you can use to mine Bitcoin.

As we approach the block reward halving scheduled for April 2024, there is huge demand for BTC mining.

What is it #Bitcoin Metrics?🛠️🪙#Bitcoin Minetrix is a tokenized cloud mining platform that allows ordinary people to mine. $BTC In a decentralized way.
It solves a big problem by eliminating the risk of third-party cloud mining scams and putting control in the hands of users. pic.twitter.com/LOY6lpZMja
— Bitcoin Minetrix (@bitcoinminetrix) September 25, 2023

As a result, miners are doing their best to mine as much BTC as possible and rarely sell it right away.

This makes individual mining more complicated, not to mention the enormous cost of Bitcoin mining equipment and the electricity required to run it. Therefore, mining through a cloud platform becomes the best alternative.

Bitcoin Minetrix understands that many people may be skeptical about cloud mining platforms due to the numerous scam platforms that have resulted in losses for users in the past.

That is why we have audited our platform to ensure it is fully decentralized and transparent.

To date, Bitcoin Minetrix has raised over $5.32 million, making it one of the largest presales of 2023. However, it is not over yet and its token, BTCMTX, can still be exchanged for ETH or USDT or purchased via credit/debit. card.

The current price is $0.0122, but it is expected to increase in a little over a day.