The price of Helium has seen a significant surge, rising by 22.38% over the past day. This price movement comes amid developments surrounding the Helium network and a growing interest in the digital coin.
The token has been trending upward in response to the announcement that Helium and two other Solana-based meme coins, $PENGU and $POPCAT, will be listed on Coinbase perpetual starting February 13, 2025. The integration of Helium into a major exchange platform is one of the key drivers behind the recent price increase.
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Helium’s addition to Coinbase’s perpetuals market is an important development. This listing is expected to attract more attention from institutional and retail traders, increasing Helium’s liquidity and exposure.
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Helium’s Network Improvements and Hotspot Payouts
Another contributing factor to the rise in Helium’s price is the network’s recent improvements. One notable update is the resolution of Helium’s hotspot payout issues. The payouts, which are now properly issued in HNT, have provided more stability and confidence within the Helium community. This update is seen as a critical milestone, as it addresses one of the network’s long-standing challenges.
These changes signal a positive shift in the operational efficiency of the Helium network, which has, in turn, strengthened investor sentiment. As the network matures and resolves technical issues, the market seems to view the token’s prospects more favorably.
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Helium Price Action and Technical Analysis
The latest price action for HNT shows a strong breakout from a downward-sloping channel that had constrained the token’s price movement for some time. The token is trading around $4.14, having recently moved higher, breaking above previous resistance levels.
A key observation from the chart is the neutral RSI reading of 57.08, indicating balanced market momentum. This suggests that while the price is rising, there’s still room for further gains, especially if it continues to hold above the $4.50 resistance level.
On the downside, the HNT’s price has found strong support near $3.02, indicating that the recent price surge may have solidified a more stable trading range.
Helium’s price surge today is a combination of external market factors, network improvements, and positive technical indicators, creating a promising outlook for the token in the short term.
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