Article Title: Helium Price Analysis – HNT Price Drops Below $5.50, Will it Reach $10?
Joel Frank
Last updated:
May 6, 2024 17:27 EDT
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2 min read
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The Helium (HNT) price is currently declining after briefly surpassing $5.50 earlier today. This has led some to wonder if the cryptocurrency will soon make a comeback and reach $10.
Helium operates on the DePIN network, which utilizes a decentralized global network of wireless hotspot providers who also act as miners.
Last month, the Helium price dropped to as low as $3.40 but managed to recover above $6 last week.
However, the bullish momentum has since diminished, with the Helium price struggling to maintain its position above the 50-day moving average (50DMA), which currently stands at $5.40.
Despite this, chart analysis indicates that the bearish trend from March to April has been broken.
Helium Price Forecast – Can HNT Reach $10?
The Helium price broke the downtrend in late April and has since formed short-term support. This suggests that while a new bull run may not be imminent, the recent bearish phase is likely over.
For HNT to make a new push towards yearly highs above $10, it needs to break above the 50DMA and the 200-day moving average (200DMA).
These two levels are currently between $5.40 and $5.70. A convincing breakout above $6 would indicate that these levels are being left behind.
The next significant target would be the $8 balance zone, followed by $10.
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Considering Helium’s relatively small market capitalization of around $860 million, there is ample room for growth, making $10 a realistic target.
However, it’s important to note that whether HNT will be a successful long-term investment is highly speculative as Helium’s DePIN network has yet to achieve significant global adoption.
Alternative to Consider – Wiener AI (WAI)
Investors who are inclined to take risks and are interested in speculative coins like HNT may have a high tolerance for risk.
However, those with an appetite for risk may want to explore a different strategy that offers higher potential returns.
One such strategy is crypto presale investing, where investors purchase tokens of new crypto projects before they are launched.
An intriguing new crypto presale called Wiener AI (WAI) has caught the attention of analysts at Cryptonews. This meme coin, inspired by sausage dogs, offers a range of AI trading capabilities and has already raised over $1 million.
Investors who are interested should act quickly, as the price of WAI will increase once the presale reaches $1.1 million.
Currently priced at $0.000703, buyers are acquiring WAI at a market capitalization of approximately $45 million. If WAI becomes a market leader, investors could potentially see gains of 10x or more.
WAI is not only an exciting meme coin with AI capabilities but also a potential passive income opportunity. The project has allocated 20% of its supply to staking rewards, offering investors a massive 817% APY, according to the project’s official website.
At this rate, investors can double their initial presale investment in just one month.
Buy WAI Here
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. There is a possibility of losing all of your invested capital.
