Join our Telegram channel to stay up to date on breaking news coverage
The price of helium rose 34% in the last 24 hours to trade at $8.36 At 5 a.m. EST, trading volume skyrocketed to $57.26 million.
The price of helium skyrocketed after the recent launch of the helium mobile, a $20 monthly phone plan available throughout the United States. The plan offers unlimited data, text, and talk, all for just $20 a month.
IT'S HERE
Our $20/month nationwide unlimited phone plan is now available!The average American spends $157 a month on their phone plan, but starting today, anyone in the US can join Helium Mobile and say goodbye to expensive bills.
Read the news: https://t.co/qXWCpm6zbo
Sign… pic.twitter.com/A2hqPppCMB— Helio Móvil (@helium_mobile) December 5, 2023
The project's connectivity service emerged as a cost-effective alternative to traditional service providers. Before Helium Mobile, the average US citizen spent about $157 per month on phone plans offered by various carriers.
The new connectivity services use Helium's 5G network, allowing users to set up their mini cell towers and increase network coverage.
The company statement says Helium Mobile Hotspots allow subscribers to set up and own mini cell towers, thereby eliminating dead zones by simply allowing anyone to become a builder and set up a hotspot to expand the network for themselves and the community in general.
I just received my @helio_movil access point #LFG #helium #HelioMobile #Helium crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto #utility pic.twitter.com/gSNbCldbZ4
— MaknBank.crypto (@makn_bank) December 8, 2023
Helium price forecast following launch of unlimited monthly phone plan
The rapid rise in helium price took the token to $8 today, only briefly surpassing this resistance and heading towards the next one at $8.50. However, before reaching this level, the token price was rejected at $7.87, from where it attempted to recover.
Unfortunately, the $8 resistance did not allow it for the second time and now the token remains just below it.
With the launch of Helium Mobile, the project is sure to see significant growth in the long term, so it should be a good long-term investment.
But in the short term, their next moves are harder to predict.
The enthusiasm for the network launch is still quite strong, meaning that there are fundamental reasons to support the idea that the price of HNT will continue to grow.
On the technical side, multiple indicators suggest the same thing, such as their extensive Bollinger bands.
However, HNT's Relative Strength Index (RSI) suggests that the token has ventured deep into overbought territory, which is likely why its price rally lost steam.
Buyers saw an opportunity to withdraw money before the price fell and many took advantage, interrupting the rally.
In the future, HNT price could undergo a correction that could push it towards resistance-turned-support at $6, from where it would have a chance to recover and attempt another rally.
However, if bullish pressure builds sooner, the token could avoid such a significant drop and make another attempt to break the $8 resistance.
That being said, HNT's Average Directional Index (ADX) recently jumped above 60, indicating that the coin still has momentum.
As a result, the uptrend is likely to continue in the coming days and weeks, which could push HNT towards the $10 resistance.
Promising alternatives to helium
While HNT holders have managed to make huge profits by holding the token at the time of Helium Mobile's launch, there is a project that could potentially deliver even bigger profits in due time.
The project in question is called bitcoin Minetrix (BTCMTX), a cloud mining platform for bitcoin.
#BTCMTX offers a reliable cloud mining solution for everyone crypto?src=hash&ref_src=twsrc%5Etfw”>#crypto enthusiasts.
Past concerns about high hardware costs and deceptive cloud mining scams have deterred many from entering the space.
This decentralized method guarantees a transparent and secure mining journey. pic.twitter.com/I600MjT8HE
—Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
The project has its token, BTCMTX, which users can purchase and stake. By doing so, they receive credits that can be used to mine bitcoin.
There is high demand for btc mining as the coin approaches half of its block reward, scheduled for April 2024.
What is #BitcoinMinetrix?bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Minetrix is a tokenized cloud mining platform that allows everyday people to mine $btc in a decentralized manner.
Solving 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
—Bitcoinminetrix (@bitcoinminetrix) September 25, 2023
As a result, miners are doing everything in their power to mine as much btc as possible and rarely sell it right away.
This makes individual mining even more complicated, not to mention the enormous cost of bitcoin mining equipment and the electricity needed to run it. This makes mining through cloud platforms the best alternative available.
bitcoin Minetrix is aware that many may be skeptical about cloud mining platforms due to numerous fraudulent platforms that caused losses to users in the past.
That's why it made sure its platform was completely decentralized and transparent, with audits to prove it.
So far, bitcoin Minetrix has raised over $5.32 million, making it one of the biggest pre-sales in 2023. However, it's not over yet, and its token, BTCMTX, can be purchased even now in exchange for eth or USDT or through credit/debit. card.
Its current price is $0.0122, but it is expected to rise in just over a day.
Related news:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
Join our Telegram channel to stay up to date on breaking news coverage
