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Helium Mobile has witnessed impressive success, yet the network has struggled to keep up with the broader market dynamics, leading to compounded losses as market conditions declined. Recent market data highlights that HNT, Helium’s native token, has seen a decrease of approximately 15% over the last fortnight, posing potential risks to recent gains.
Investor Sentiment and Market Developments
Despite the downturn, investors and traders are optimistic about new developments that could potentially reverse the current trend as the market stabilizes. These developments offer a glimmer of hope for potential gains, although investor confidence remains tentative and cautious.
Helium’s Strategic Alliance with Ameriband to Boost Network Coverage
In a significant move, Helium has entered into a partnership with Ameriband, a prominent player in Wi-Fi infrastructure within the United States. This collaboration aims to deploy over 100,000 data-only hotspots across the country, significantly enhancing Helium’s network coverage. According to Helium’s recent blog post, this initiative will immediately expand the network’s reach within the US.
Ameriband’s extensive network, already implemented in major retail businesses, grocery chains, venues, and commercial locations nationwide, is set to drive increased usage of the Helium Network. This partnership ensures that anyone with a Helium Mobile phone plan will experience improved connectivity in more locations than ever before.
This development represents a major victory for Helium, as it promises reliable connectivity for users across the US. As the network expands, users who previously faced connectivity challenges will likely encounter fewer issues, enhancing user satisfaction and potentially increasing the number of users on the platform’s mobile service.
HNT Market Movements and Future Outlook
Currently, HNT is trading at $6.45, with efforts underway by bullish investors to retest the resistance level at $6.79. However, the token remains vulnerable and may dip further to around $6.23 in the upcoming days or weeks. The Relative Strength Index (RSI) suggests a potential bullish reversal could occur within the week or shortly after.
Market Correlation and Its Impact on HNT
The increasing correlation of HNT with the broader market poses a risk to its emerging bullish momentum. Consequently, the token might stabilize within the $6.23-$6.79 trading range in the near term but could decline towards $6.23 or even $5.67 if bearish trends dominate the market in the upcoming months.
As Helium continues to navigate these challenges and leverage strategic partnerships, the outlook remains cautiously optimistic, with potential opportunities on the horizon for both investors and the network itself.
