Bulls Are Back: Helium’s Price Could Double in the Coming Weeks

Helium token ($HNT) is exchanging hands at $7.35, down by 3% in the last 24 hours. In the last 30 days alone, HNT has seen remarkable growth. It has increased by 14.51% and 396.41% over the last 365 days. Ongoing rallies and optimistic sentiments have paved the way for another massive rise. Speculation suggests that HNT could rise two-fold in the weeks to come. In other words, it could venture out to target the milestone of at least $14.

Some of the key factors that are driving the price of HNT are demand, buying momentum, and pattern formation.

For starters, the demand for Helium tokens has surged amid the dip that is briefly appearing on the price chart. It stems from the anticipation that the token will eventually respond positively to rate cuts. BTC and ETH have already started marking upticks in the value. The last 24 hours saw dips, but the later valuation is positive. Next, constant buying momentum shows a sense of confidence among investors. They are confident in Helium’s ecosystem structure.

Last seen, the pattern formation took the shape of a double bottom. It was triggered when investors were accumulating at the rate of $3 per token.

Market sentiments are bullish, as evidenced by 50% green days in the past month. The Fear & Greed Index is at 54 points, and the 14-day RSI is 53.38 at press time. For HNT, the 50-day SMA of $6.93 is the most effective. It signals that there is an uptrend at the moment for HNT. With $5.95, the 200-day SMA cements it further.

Every time HNT closes positively, bullish sentiments also emerge. The last 30 days alone have seen HNT close the day on a higher note. It was able to bank $7.01 on August 26-27, 2024, and $7.07 on August 28-29, 2024. The 24-hour trading volume has dipped by 48.06% right now, but it is well within control to signify the rising interest in Helium.

Predictions for HNT show bigger values. The year-end Helium price prediction shows that it could hover around $11.22, or $7.46. This would set the stage for HNT to exchange hands within the range of $15.90 and $16.26 by the end of 2025. Short-term predictions demonstrate a possibility of a 23.20% surge in the next 30 days, taking it as high as $9.04 from the current value.

Potential risks to Helium’s growth include regulatory clearance and declining interest in IoT tokens. If HNT experiences significant volatility, the altcoin season may divert focus away from various other cryptocurrencies.

Given the recent dips in HNT, Helium could be a good investment at this time; however, due to the high volatility of the crypto market, further research is recommended. Consider the duration of investment in HNT before taking a call. It is possible that it will not generate enough profits in the short term.