The Helium Network is a decentralized wireless network that uses a new cryptocurrency called Helium (HNT) to secure and verify the network. Its goal is to provide internet connectivity to underserved and unserved areas, particularly in rural and remote locations, using a decentralized peer-to-peer network. As of writing the HNT price is at $1.79, up by 0.47% for the day. The price has printed long wicks for the past two days, which indicates strong selling pressure around the $2 level. Is it too late to buy HNT? Here’s what we can expect for HNT in the coming days and weeks.
Helium (HNT) Price Prediction and Technical Analysis
Exponential Moving Average (EMA)
The EMA is indicating that Helium is still bearish for medium to long-term timeframes as the price is trading below the 50-day and 100-day Exponential Moving Averages.
However, the HNT price has been trading above the 20-day EMA for the past two days. If the price successfully mounts the 20-day EMA, a short-term bullish bias for the cryptocurrency is possible.
Relative Strength Index (RSI)
October 2022 was the last time HNT RSI has seen levels above the RSI 50. It attempted to break out from the level back on December 21, but it was immediately brought back down the following day.
After having an increase in activity over the past couple of days, HNT’s RSI is at 47.42 at the time of writing. With HNT experiencing significant selling pressure for the past two days, it is unlikely that RSI 50 will break in the next few days.
Moving Average Convergence Divergence (MACD)
A newly formed bullish crossover is observed in HNT’s MACD. Its histogram reveals a gradually increasing separation between the MACD and the signal line.
Support, and Resistances
A consolidation above the support area of $1.76 to $1.78 may be needed before the price makes another attempt at breaking the $2 psychological resistance.
If the $1.76 to $1.78 support area doesn’t hold, the next immediate support is at $1.60. Immediate resistance is $2 followed by the previous resistance area of $2.12 to $2.18.
Helium (HNT) Fundamental Analysis
The Helium Network
The Helium Network utilizes a wireless technology called LongFi, which enables long-range communication over large distances using low power. It is well-suited for use in IoT applications and has the potential to revolutionize other industries by providing a low-cost, low-power alternative to traditional wireless networking technologies. Its innovative technology and decentralized approach make it a promising solution for a wide range of applications and industries.
The increased trading activity of Helium may be due to its partnership with Hivemapper Dashcam. However, there isn’t a significant catalyst for the pump necessarily, with some attributing it to ongoing PR and puff pieces by the company.
Some also note that the Helium Network isn’t really used at the moment and there are reports of many glitches and deception by the team.
In short, with potentially weak fundementals, the recent pump in Helium may not be based on fundemental strengths of the project and it may not be a great long term investment.
Examples such as this highlight why before investing in a cryptocurrency project, it’s important to carefully evaluate its underlying fundamentals, as they can significantly impact the value of the coin. Other altcoins that may offer alternatives to invest in, such as FGHT and D2T have stronger fundamentals and potentially more utility for their tokens when their apps launch this year.
Fight Out (FGHT)
Fight Out is an upcoming move to earn (M2E) application and gym chain that motivates users to be active while collecting rewards and creating socially driven physical fitness communities both online and locally. With the Fight Out app, users can customize their own workout plans, track their growth, as well as join challenges with other members of the community.
Fight Out is taking a difference approach to fitness tracking industry with its cutting-edge utilization of a real-time NFT-based avatar. With Fight Out, users can monitor their progress in strength, cardiovascular stamina, and other areas exhibited through a digital representation within the game’s metaverse. As players reach their physical fitness objectives, their avatars will level up to battle others for rewards.
At the end of this year, Fight Out is launching the first of their pioneering Web3-integrated gyms. These facilities will offer an array of amenities such as fitness stations, health bars, studios, and co-working spaces for members to use. Interesting features such as ‘mirrors’ will enable users to bring their digital fitness profiles into real life while giving them insights into their workouts. Experienced boxers and other renowned athletes have also teamed up with Fight Out for exclusive events at the gym locations as well as masterclass workout sessions.
Fight Out will also offer users customized workout plans developed by seasoned health experts that are aligned with their individual objectives and capabilities. Additionally, the app will feature performance analytics and progress monitoring tools to inspire members on their journey towards achieving fitness goals and provide content creation opportunities for community members so they can share inspiring stories among each other.
Fight Out is determined to incentivize users with a fun and engaging approach to living an active and healthy lifestyle, while simultaneously driving the adoption of Web3 technologies. As evidence that investors are into this approach, Fight Out has already raised nearly $2.66 million during its FGHT token presale.
Investors who buy FGHT today can enjoy up to 50% bonus during the presale at its ground floor price. This project is backed by esteemed organizations such as LBank Labs, Cryptonews.com, Transak and BlockMedia Labs who are providing financial and operational assistance that will increase the chance’s of this crypto’s success.
Dash 2 Trade (D2T)
Dash 2 Trade‘s upcoming February launch could be a game-changer for cryptocurrency trading. With its expansive range of features that allow traders to have complete monitoring and control over their investments, along with its invaluable resources that guide users in making wise decisions to maximize returns on investment, Dash 2 Trade stands out amongst the competition offering an all-encompassing suite of tools.
Dash 2 Trade gives novice traders the insight they need to make intelligent decisions while also providing more experienced investors an opportunity to improve their strategies and take advantage of automated trading with exchange APIs. Investors can also get insights to get in early in some of the most promising tokens due to its token presale scoring system.
Other platform tools will include real-time sentiment surveillance, automated tools, and powerful analytics. Another selling point for the platform is that it will have an impressive following from day one due to its parent company already running Learn 2 Trade, which has an existing international membership base of over 70 000 traders. To make sure that Dash 2 Trade keeps providing a smooth user experience; the team will also actively seek customer feedback on an ongoing basis.
Dash 2 Trade’s presale has already exceeded expectations and raised nearly $14 million, so they are now offering up to an additional $2 million worth of tokens until their exchange listing is launched. This success will ensure Dash 2 Trade a healthy runway for rapid product rollout and more exchange listings.
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