Helium (HNT) Price Skyrockets by 10%, Outperforming BTC, ETH, and SOL Amid Bearish Market Trend

In this ongoing bearish market trend, Helium (HNT) is making waves due to its impressive price surge over the last 24 hours. The top DePIN token, HNT has soared more than 10% and outperforms major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Helium (CRYPTO: HNT) price surged more than 10% in the last 24 hours and outperformed major cryptocurrencies like Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Solana (CRYPTO: SOL) during the same period.

The top DePIN token soared to the $8.47 level at press time and was among the best performers in the cryptocurrency market on Monday.

HNT price broke out of a strong resistance level of $8.1 and was now heading toward the $10 level.

The impressive performance also led to a 27% surge in HNT open interest in the last 24 hours, indicating growing interest from investors and traders amid the market downturn.

Helium technical analysis and upcoming level

The expert technical analysis showed HNT is bullish and in an uptrend, as it trades above the 200 Exponential Moving Average (EMA) on a daily time frame.

It recently broke out of a strong resistance level of $8.10 and a price consolidation zone between $6.5 and $8, which it experienced for three weeks.

With this breakout and rising open interest, there is a high possibility that the HNT price could soar by 30% to the $11.03 level.

However, its Relative Strength Index was in the overbought zone, indicating a potential pullback.

Why is Helium price increasing?

The rapid growth in subscribers and hotspots, along with increasing network usage, is the reason behind Helium’s (HNT) impressive price surge.

According to the data, Helium Mobile has experienced explosive growth of 300X in a single year.

At the same time, the number of hotspots surged from 11 to 18,355 in the same period, highlighting the strong demand for decentralized telecommunication solutions.

Despite the massive expansion of the Helium Network in key regions like the U.S. and Western Europe, its presence is also rapidly growing in Latin America and Asia.

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