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Xanrox
Jan 9, 2024 9:34 AM

HNT is starting a huge uptrend, time to buy? Long

Helium / TetherKuCoin

Description

We can see that HNT Is starting something very big. The downtrend ended with a descending parallel channel, and now we are in a brand new uptrend. The WXYXZ Elliott Wave corrective pattern has been completed, and we have already started a new impulse wave. What about the volume indicator? We have an elevated bullish volume, which is very important and confirms my bullish bias.

Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!

Helium aims to improve the communication capabilities of wireless Internet of Things (IoT) devices. In 2013, infrastructure around IoT was still in its infancy, but developers wanted to add decentralization to their offering, hence referring to it as “The People’s Network” in official literature.

Its core appeal will be to device owners and those interested in the IoT space, with financial incentives providing further outreach possibilities.

Network participants purchase Hotspots — a combination of a wireless gateway and a miner — or build their own. Each hotspot provides network coverage over a certain radius, and also mines Helium’s native token, HNT.

The network runs on proof-of-coverage, a new consensus algorithm based on the HoneyBadger BFT protocol which allows nodes in a network to reach consensus when connection quality is highly variable.

In addition to HNT, users pay transaction fees in a separate token called Data Credits, which are not exchangeable and tied to individual users themselves. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades!


Comment

HNT is going up as expected, update from me: keep holding and do not loose faith.

Comment

Volume is huge, the trend is bullish. Keep holding.
Comments
LegionQ8
Very interesting idea! I think the price can turn around and start to move down, what do you think about this scenario?
Mutaz100
Thank you for sharing this information… can you look into SLPUSDT please
Xanrox
@Mutaz100, Welcome. SLP is not the best at this moment. Going sideways and I see a huge shooting star bearish candle on the weekly chart.
hp_hakan_polat
hello I like your chart if you avaliable can you look LUNC USDT ? I want your idea
Xanrox
@hp_hakan_polat, I dont like LUNC, it has a very bad reputation.
HippoTrading
I agree with you 👍
Xanrox
@HippoTrading, Thanks man
Xanrox
What is your opinion about HNT ?
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