Key HNT Token Takeaways:
- The “People’s Network” Helium introduced its updated Console v2.2.0.
- Helium’s in-house token HNT was the biggest gainer in top 50 cryptocurrencies by market cap.
YEREVAN (CoinChapter.com) – Helium, a decentralized wireless infrastructure, aims to introduce a new way to think about the internet and connectivity. In short, it is an IoT (internet of things) device connectivity system. The blockchain provided hotspot and roaming services and introduced its new Mobile App Console v2.2.0 on Jan 26.
According to the platform’s survey, approximately 70% of the 5,000 respondents accessed Console at least several times a week. Meanwhile, 50% used it daily, and over 97% of the respondents used Helium Console via smartphone. The statistics spurred the team to upgrade the mobile application.
The new release extends the receive window delay, which the team believes will help with latency that can cause downlink issues.
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The team also mapped out the Console app and how to use it. They specified that any Network participant could present themselves as an individual user or an organization. Moreover, presenting as an organization can help connect all the users (unlimited) within the organization.
Meanwhile, the Network’s in-house token could be poised for an additional 25% uptrend.
HNT charts bullish in the short term
The digital asset formed a Descending Channel on the daily chart. In detail, the setup entails two parallel trendlines that envelop the price action and prevent sharp breaks in either direction. HNT has traded within the Channel since late Oct 2021.
The said formation cannot predict a future bias, but it is instrumental in determining short-term price vectors. Helium token retested the Channel’s support Jan 22-24, then gained 36% in two days, making it the biggest gainer in the top 50 cryptos by market cap.
Thus, traders could expect another 25% continuation within the pattern until HNT hits the Channel’s resistance. HNT/USD exchange rate stood at $30.5 in Wednesday’s New York session. However, it could climb to approximately $38.0 if the scenario plays out.
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Moreover, the token’s relative strength index (RSI; momentum indicator) recovered to 50. In detail, the upper range between 50 and 70 signifies heightened interest from traders and their high return expectations.
