FxWirePro- HNTUSD (Chart of the day)

Helium is a decentralized distributed network of Hotspots for Internet of Things (IoT) devices using the LoRaWAN system. It is one of the leading DePIN protocols.

Recent News-

MOBILE Network HIP 130 and 131 Passed.

HIP 130 passed with 96.62% votes, and HIP 131 passed with 99.37% votes, both of which are above the passing threshold.

With the passing of HIP 130, compatible Wi-Fi access points (including ones already deployed in venues all over the world, can be configured to support MOBILE Service Providers like Helium Mobile.

HIP 131 allows Service Providers to start affecting gaming within Oracle Hex boosting areas, as well as Service Provider Boosted hexes, but only within the highest-earning areas.

HNTUSD consolidating between $ and $6.12 for the past two weeks.

Any weekly close above $8 confirms further bullishness.

HNTUSD gained more than 13% in past two days.The pair holds well above the short-term (21 and 55 EMA) and the long-term moving average in 8-hour chart. It hit a high of $7.72 and is currently trading around $7.34.

The bullish invalidation can happen if the pair closes below $3.50. On the lower side, the near-term support is $6. Any break below targets $5/$4.50/$4/$3.60/$3.

The immediate resistance stands at around $8. Any breach above confirms a minor pullback. A jump to $8.49/$9.13 is possible.

Indicator (8-Hour chart)

CCI (14)- Bullish

CCI (50)- Bullish

Average directional movement Index - Neutral

It is good to buy on dips around $7.10-15 with SL around $6 for TP of $10