Investors are flocking to Helium (HNT) after the company showed strength despite stagnant market momentum. According to CoinGeckotoken rose by over 21%, going against the flat market trajectory. This happened after a cryptic post about Helium’s plans, which may indicate a brighter future for the platform and its users.
With this in mind, HNT remains an attractive investment for both users of the platform and those looking for long-term gains. However, with market momentum stagnating, investors and traders should exercise caution as any movement in the broader market could lead to a decline.
Mysterious message increases investor interest in HNT
Abhay recently posted a cryptic message that suggests possible network modernization soon. This sent the community into a spiral of speculation, with Abhay stating that it would be a busy month for the network.
This post has caused quite a stir as community members await the official announcement of the planned update, which could be coming soon.
1.0 – Start Wireless Network
2.0 – Scaling Two Networks
3.0 – Scaling all networkswait for further information, @helium pic.twitter.com/2aNUG8IyDe
— abhay 🎈 (@abhay) August 16, 2024
Mobile operator beta passes, expands network coverage
HIP 129 was passed three days ago, allowing all mobile access points to participate in Carrier Beta. This expands the range of Carrier Beta, which will impact network performance in the long term.
Since almost the entire continental United States is covered by the Helium network receptionthe community will see an boost in users trying to offload the Carrier beta. At the time of going to press, over 58,000 users have joined since last week, a net gain of 5,122.
Data usage also increased, with an additional 1.5 terabytes of data flowing through the platform.
Investors benefit from recent helium opportunities
The token is currently trading above the $7.2 support, with bulls confidently approaching the $8 level. With forceful bullish sentiment supporting its trajectory, HNT is expected to break through this level in the coming hours or days. With the development of the Helium chain, investor confidence is at its highest as they continue to accumulate the token.
However, the Relative Strength Index (RSI) suggests that the momentum will sluggish down. However, this could happen well after the $8 level is broken. If this happens, investors and traders have a chance at $9 in the long term.
Given the overall market sentiment, HNT could see a slight pullback, possibly returning to the $7-$8 price range before a forceful push up towards $9. This represents almost a 22% price boost.
However, investors and traders should pay attention to the market as any change in the broader market can impact the token’s trajectory in multiple ways.
Featured image from Live Science, chart from TradingView
