- Helium is showing bullish signs and has surged almost 30% in 24 hours.
- HNT recovered from the market slump faster than most other altcoins.
- HNT charts are forming a bullish ascending scallop pattern.
Helium (HNT) shows bullish signs, rising almost 30% in the last 24 hours. At the time of writing, HNT is trading at $13.97 according to CoinMarketCap.
What is Helium?
Helium is a blockchain that powers decentralized wireless infrastructure. In fact, the decentralized technology behind Helium allows individuals to host a simple device in their home or office. In turn, the device can provide the surrounding community with low-power network coverage. Thus, providing internet access to billions of devices, while earning HNT as a reward.
HNT, like all cryptos, dipped along with the crypto market, however, the crypto recovered faster than most. In fact, HNT has been trading upwards for over a week. In comparison, most coins only started recovering in the last 24 hours.
Based on chart analysis, HNT price formed an ascending scallop pattern which is a bullish indicator. If market conditions favor HNT, the crypto could soon experience a price breakout. However, if the market turns on HNT, the bears could take over, dragging the price back down.
However, HNT RSI is currently just above 40, indicating that the crypto is currently underbought. Also, an RSI below 70 is often a bullish indicator.
Helium has a current circulating supply of 83,953,668 coins out of a total supply of 223,000,000 coins. The best crypto exchanges to buy the altcoin include Binance, FTX, Bilaxy, and HOO.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.