Thomas Daniels
Helium’s HNT Token Surges as it Crosses Key Resistance Levels
Helium (HNT) continued its impressive rally this week, solidifying its status as one of the best-performing tokens in recent months. The cryptocurrency rose to $8.35, its highest level since March 14, marking a 182% surge from its July low. Over the past 30 days, Helium has seen a staggering 82.6% increase, outperforming all other coins in the top 100 by market capitalization.
Strong Network Expansion and Industry Partnerships Drive Growth
Helium, a leader in decentralized physical infrastructure networks (DePIN), gained momentum after announcing that two major U.S. telecommunications companies were testing its network. The carriers are participating in the carrier offload program, redirecting traffic to Helium’s network during periods of congestion. This initiative has reportedly attracted nearly 600,000 subscribers, transferring over 13.1 terabytes of data.
Further boosting investor confidence, Helium recently expanded its network to Puerto Rico and secured support from Anchorage Digital, which added HNT to its self-custody wallet platform.
Rising Trading Volume and Open Interest
Trading volume for Helium has also surged, with daily volumes now averaging over $25 million. In addition, futures open interest for HNT reached $10 million on September 5, its highest since January, despite Binance delisting HNT futures earlier this year.
Breaking Key Resistance and Forming Bullish Patterns
Helium’s breakout above the critical $7.9827 resistance level on Thursday is a significant milestone. This level represents the highest swing from August and the upper boundary of a potential double-top pattern, a bearish signal that has now been invalidated. The token also formed a golden cross on August 13, when its 50-day and 200-day Exponential Moving Averages (EMAs) intersected, signaling potential future gains. The last time a golden cross occurred for Helium in November 2023, the token experienced a 362% rally, climbing to $11.
In addition, Helium has surpassed a crucial pivot point on the Murrey Math Lines, indicating further bullish momentum. The next key resistance level is at $9.37, which represents a 15% upside from its current price.
