Over the past month, Helium (HNT/USD) has been registering notable price gains. The monthly gains for this token currently stand at around 42%. The gains come from the token showing strong buying pressure.
On November 12 2021, Helium reached an all-time high price of $54. The record highs formed at this point were because of a strong performance in the broader cryptocurrency market.
Helium attempts a bull run
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Helium could be in for major price gains because of strong buyer support. The coin is around 19% below its record highs, and over the past month, it has been making a notable price recovery. This price recovery could be from buyers taking advantage of the price dip.
If the gains hold at this point, Helium could be headed towards breaking out of the next major resistance at $45. The 24-hour bullish gains were not enough to enable the coin to break past these crucial resistance levels, but if the buyer support holds, this could be the next target for Helium.
After $45, HNT could push towards $50, triggering a bullish run towards an all-time high. The performance of HNT is currently dependent on buying pressure, given that the broader market is in a recession.
If the overall bearish pressure from the broader market kicks in, HNT could erase the gains, and the coin could head towards a price dip. At this point, a dip will lead to Helium testing the lower support level of $42. $40 can also be reached if buyers fail to head the price recovery.
Helium at the CES event
Las Vegas is hosting the Consumer Electronics Show that has attracted interest from major players in the technology sector, including Samsung, Sony, LG and others. Notable crypto players are also attending the event to showcase their products and demonstrate how innovative technologies can be adopted.
Helium has announced that it is attending the CES event to feature the products and services available on the network. The event could see the Helium network making strategic partnerships, fuelling notable price gains.
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