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Helium (HNT) Surges Over 11% After Coinbase MOBILE Hint

Helium (HNT) Surges Over 11% After Coinbase MOBILE Hint

Helium (HNT), the native token of the decentralized Helium Network, has soared over 11% in the past 24 hours, supported by Bitcoin’s climb above $50,000. Several factors seem to be fueling this rally:

1. Coinbase MOBILE Listing Hope: Recent updates to the Coinbase roadmap mentioned the potential listing of MOBILE, a token associated with Helium Mobile, a decentralized wireless network project powered by the Helium Network. This hint of potential inclusion on a major exchange is generating significant excitement among HNT holders.

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2. Telefonica Partnership Boost: In January, Helium announced a strategic partnership with Telefonica, one of the world’s largest telecommunications companies. This collaboration aims to expand Helium’s network coverage and adoption in Europe and Latin America, boosting its long-term potential.

3. Riding the Bitcoin Wave: The positive market sentiment surrounding Bitcoin’s surge past $50,000 seems to be spilling over to altcoins like HNT. Investors seeking high-growth opportunities outside Bitcoin are exploring alternative blockchain projects with strong fundamentals.

Technical Analysis of HNT/USD

HNT/USD has broken above a key resistance level at $26.00, indicating a potential continuation of the uptrend. However, caution is advised as the RSI indicator suggests overbought conditions in the short term.

  • Moving Averages: The 50-day and 200-day moving averages are both sloping upwards, confirming the bullish trend.
  • Support and Resistance: Key support levels lie at $7.15 and $6.78, while resistance lies at $8.23 and $8.50.
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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