After rising sharply from the $2.00 backside, Helium (HNT) demonstrated a robust upswing that additional fueled the market’s constructive angle and elevated the momentum of the advance.

This week has witnessed bull motion for the Solana-based Helium Community’s HNT coin, which has seen a 70% weekly rise to $4.86.

Based mostly on the latest information, HNT, which has a market cap of about $700 million and an incredible $10 billion in buying and selling quantity as of press time, quietly touched a yearly excessive of $5.12 over the weekend after seeing a commanding 85% worth spike in solely seven days.

Helium Climbs To Yearly Excessive

HNT worth motion in the present day. Supply: Coingecko

Patrons demonstrated an upswing and had been in a position to maintain the value above each EMAs. The 200-day EMA, which exhibits energy in the latest bull run, is about to cross paths with the 50-day EMA for helium. Within the occasion that the crossing takes place, costs could attain new swing highs.

The worth of helium has been extra risky this week as a result of a divergence within the Bollinger Bands. Indicating bull domination all through the course of the week on the value of helium, HNT’s relative energy indicator is above its common line within the overbought space.

HNT worth prediction for December. Supply: Coincodex.

HNT was up from $2.73 to $5.78 within the first week of December, signifying a 70% enhance in worth. Simply this previous month, the token has elevated by over 190%.

The newest estimate for the value of Helium is that it might attain $5.75 this month, in response to Coincodex.

For a community that has primarily handled dangerous press concerning its product and the transition from its proprietary blockchain to Solana, this worth efficiency marks a turnaround.

HNTUSD buying and selling at $5.31 in the present day. Chart: TradingView.com

HNT Amongst High Crypto Performers

Within the cryptocurrency market, Helium, a decentralized community that launched in 2019, has made vital progress. It’s now among the many greatest performers. Concurrent with this worth enhance is Solana (SOL), which has risen by over 50% over the previous 30 days.

On November 12, 2021, HNT reached its highest level at $55.15. However, it fell to an all-time low of $0.200 on Could 29, 2020.

The bottom recorded worth because the all-time excessive was $1.16, and the very best was $5.75. The Concern & Greed Index exhibits a rating of 72 (Greed), and the present consensus for Helium’s worth prediction is constructive.

In the meantime, analysts say the $20 month-to-month cellphone plan from Helium Cell, which supplies clients limitless information, voice, and textual content, is usually the impetus for HNT’s worth enhance.

In accordance with a latest survey, the common American spends about $150 a month on cellphone plans alone. Helium’s latest connectivity service is predicted to supply a extra inexpensive possibility than conventional service suppliers.

Featured picture from Pixabay