This article will analyze the HNT coin according to coinmarketcap data. First, we will discuss the HNT coin and its projects and make technical and graphic analyses. The analysis we will do in the weekly period will help the investors to take risks and manage their portfolios.
What is HNT Coin?
HNT coin is the native cryptocurrency of the Helium blockchain network, which is a decentralized network for the Internet of Things (IoT) devices. It is an incentive mechanism for network participants who use specialized hotspots to provide wireless coverage and data transfer on the Helium network.
What are the projects of HNT?
Some of the projects associated with the HNT coin include:
Helium Hotspots:These specialized devices provide wireless coverage and enable IoT devices to connect to the Helium network. The hotspots are rewarded with HNT coins for providing coverage and relaying data.
Helium Console:This web-based platform enables users to manage their hotspots, monitor network activity, and track their HNT rewards.
Helium Network:This is a decentralized wireless network that is built on the Helium blockchain. It enables IoT devices to connect to the internet using low-power, long-range wireless technology.
Factors Influencing ASTAR Price
Some of the factors that may influence the price of HNT coin include:
Network Adoption:The more IoT devices that connect to the Helium network, the higher the demand for HNT coins, which may lead to an increase in price.
Network Growth:As the Helium network grows and expands into new regions, the demand for HNT coins may increase, leading to a potential increase in price.
Competition:The emergence of competing wireless networks and blockchain-based IoT platforms may impact the demand for HNT coins and their price.
Regulatory Environment:Changes in regulatory policies and government interventions may impact the adoption and usage of the Helium network, which may, in turn, affect the demand for HNT coins and their price.
Market Sentiment:Like all cryptocurrencies, the price of HNT coins may be influenced by general market sentiment and investor perception of the project’s long-term potential.
HNT COİN TECHNICAL ANALYSIS
After seeing its historical peak value of $ 60.39 in November 2021, HNT fell by 98% until March 2023, falling to $ 1.16. HNT has been rising since March and is currently trading at $ 1.8497. According to coinmarketcap data, HNT, which has a size of $266,253,844, has had a volume of $5,352,154 in the last twenty-four hours.
HNT Chart Analysis
Frustrated by its investors by experiencing a 98% loss in a year and a half, HNT dropped from $60.39 to $1.16. When we examine the HNT chart, which has been on the rise since March, it is seen that it has been unable to break the downtrend it has entered. The uptrend will start when the downtrend (red line) is broken. When we analyze the chart weekly, $3.25, the falling trend line, is our resistance point, while $1.16 is our primary support point for possible pullbacks.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their research when deciding. This article does not include investment advice or suggestions. Every investment and trading move involves risk, and readers should perform their analysis when determining.
