FxWirePro- HNTUSD Daily Outlook

The Helium Network represents a paradigm shift for decentralized wireless infrastructure. The Helium Network powers a variety of wireless applications from long-range sensor tech to cellular connectivity. Wireless gateways called "Hotspots", operated by Helium's global community, provide low-cost wireless coverage.

Helium network components are

Solana Blockchain

HNT Token

IOT Token

Mobile token

Consensus mechanism-  

Proof of Coverage - The Helium Network uses a unique consensus algorithm called "Proof-of-Coverage" (PoC) to verify that hotspots accurately represent their location, configuration, and the wireless coverage they create.

Ichimoku Analysis  (4 hour chart)

Tenken-Sen- $5.01

Kijun-Sen- $5.28

HNTUSD recovered after a minor sell-off.

Any daily close above $6 confirms further bullishness.

HNTUSD gained more than 20% in the past two days. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $4.58 and is currently trading around $4.35.

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

The immediate resistance stands at around $6. Any breach above confirms a minor pullback. A jump to $7.25/$8.20  is possible. A surge past $10 will take it to $15.

It is good to buy on dips around $4.75-80 with SL around $4 for TP of $7.