Highlights:
- Helium in a breakout with high volumes
- Breakout could see the price rally to $5 or higher
- Broader market momentum could sustain Helium’s momentum to $5 or more
Helium (HNT) is on a parabolic rally, coinciding with rising bullish sentiment across the market. When going to press, Helium was up by 20.38% to trade at $4.11. The bullish price movement came with a significant increase in its trading volume which has increased by 105% in the last 24 hours.
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Bitcoin’s Influence on Helium’s Performance
Part of the reason behind Helium’s intra-day price action is Bitcoin’s price action. Following a sustained period of bearish market movement, the crypto ecosystem is beginning to stabilize, with a total market cap increasing by 1.50% to $3.42 trillion.
#Bitcoin is going to $1 million sooner than you think 🚀 pic.twitter.com/ziq3sng8XH
— ⚡₿itcoinTeddy⚡ (@Bitcoin_Teddy) February 9, 2025
Bitcoin is trading at $98,314.50, an increase of 0.44% in the day. Given that Bitcoin is almost always the pointer of the total market movement, its current increase could boost Helium going into the foreseeable future.
Coinbase Is Set to List Helium Futures
Aside from the general recovery trends in the market, Helium is also benefitting from strong positive developments. One of them is the upcoming listing on Coinbase Perpetual Futures. Coinbase announced on February 6th that it will be launching perpetual contracts for Helium on its international exchange and advanced trading platform.
@CoinbaseIntExch will add support for PENGU, Popcat, and Helium perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our PENGU-PERP, POPCAT-PERP, and HNT-PERP markets will begin on or after 9:30 am UTC 13 FEB 2025. $PENGU $POPCAT $HNT pic.twitter.com/RDn3VBjhTU
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) February 6, 2025
The expected launch date for trading is set at February 13, 2025, at 9:30 am UTC. The move by one of the largest crypto exchanges is likely to increase investor interest in Helium. It could also improve the liquidity and accessibility of helium for traders.
Helium Mobile Lets Users Get a Phone Plan for Free
HNT is also getting a boost from positive news coming out of Helium Mobile. Helium Mobile, the company linked to Helium, has launched the first-ever mobile phone plan with no charges in the United States. Dubbed “Zero Plan,” users get 3GB of data, 300 texts, and 100 minutes without any covert charges and contracts. The disruptive model is expected to catalyze the adoption of the Helium ecosystem and long-term demand for Helium.
Helium’s Leading Edge Among Competitors in Telecom
The blend of Helium’s decentralized telecom system and the partnership with a prominent 5G network enables it to sell competitively covered regions at lower prices. Now the combination of community-powered networks with large-scale networks is changing the way mobile connectivity is provided. This can lead to greater adoption of the Helium blockchain. It could also further enhance the value of HNT tokens long term.
Technical Analysis – Helium Price In an Intra-Day Breakout
From the charts, Helium is in a breakout after a two-hour consolidation between the $4.07 resistance and $3.97 support. If bulls sustain this momentum, then Helium could be headed to a high of $5 or higher in the day.
On the flip side, if the bulls fail, two scenarios could play out. One would be a fallback into the hourly range between $4.07 and $3.97. The second scenario is where bears take control and push Helium through the $3.97 support. In such a case, Helium could erase all the day’s gains and drop back to around $3.6. Of these two scenarios, the odds are higher for a continuation of the bull rally. That’s because Helium is already in a breakout, and the broader market supports a possible continuation of the momentum built up so far.
Recap
As Helium’s price rises, the inflow of institutional investors could increase, especially with the upcoming Coinbase futures listing. Additionally, the potential increase in Helium Mobile’s usage will most probably push the value of HNT in the future.
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