The crypto industry has always had investors who are looking for new investment opportunities outside of the top 10 list, seeking out altcoins that have yet to reach their golden age. Of course, there are plenty of those to be found, but the situation is a bit more complicated when it comes to trading, rather than long-term investing.
With that said, as 2021 is approaching its end, it appears that the industry is seeing another price increase which is already taking over plenty of coins, with Helium (HNT) being one of the best examples at the time of writing. The coin has reached quite a milestone earlier this year, and while it has been corrected since then, it seems like it might be on its way back up right now.
HNT price so far
Helium (HNT) is a decentralized blockchain-powered network meant to be used for IoT devices. Following its launch in July 2019, the token’s price was fairly inactive, sitting around $0.6 for the rest of the month. It did jump to $1.7 in late August 2020, only to remain there until the end of the year.
In 2021, the price started seeing a lot more activity around February, when it started skyrocketing all the way up to $20, which was an all-time high and also a major resistance that the project finally reached in the early days of April.
Unfortunately, the resistance was too strong for HNT to breach it, and its price was actually rejected, stopped only by a support at $10. The project then spent the entire summer fluctuating between these two levels, going up to $20 and trying to breach it only to be rejected and pushed back down to $10.
Things finally took a turn in mid-August, when Helium managed to skyrocket past this limit and hit $25. While briefly rejected by this next, even more, powerful resistance, it did not go too far, and it actually used $20 as its support this time.
It managed to remain between these two new levels for the next two months, until late October, when it skyrocketed once again, and this surge took it to its current all-time high — $55.22. This level was reached on November 12th, just as Bitcoin itself reached its own current ATH of $68k.
Once again, after hitting the milestone, the token saw its price pushed down, which resulted in a major price drop all the way down to $25, which is where Helium found its new bottom on December 13th — exactly a month since the price drop originally started.
However, these days, this means a major opportunity for investors and traders alike. The project already showed that it can easily double its price in only a week, and since it hit its bottom recently, the only way it can go now is up.
More importantly, it should be noted that the market is seeing another, likely the final bull run of 2021, which might be the strongest one so far. It has already allowed Helium to skyrocket from its bottom at $25 to $38, growing by 8.6% in the last 24 hours, and by 38% in the last 7 days. In other words, now is the time to buy, before the HNT price recovers fully, which may very well happen in the next week and a half.
To learn more visit our Investing in Helium guide.
The post Helium (HNT) Price Spikes Up: Can it Reach ATH before the End of the Year? appeared first on Securities.io.
