By The Helium (HNT) price is pulling lower after reaching above $5.50 earlier in the session, with some asking whether the cryptocurrency might soon push higher back towards $10.
Helium is a DePIN network that leverages a decentralized global network of wireless hotspot providers who double up as miners.
After dipping as low as the $3.40s last month, the Helium price was able to recover above $6.0 last week.
But bullish momentum has since faded. The Helium price has been unable to hold above its 50DMA, last at $5.40, for any sustained time.
Still, chart analysis suggests that the March to April bearish trend has been snapped.
Helium Price Prediction – Can HNT Reach $10?
The Helium price snapped this downtrend in late April. And this downtrend has since gone on to form short-term support.
That’s a sign that, while a new bull run may not be imminent, the latest bearish phase is likely over.
For a new push to yearly highs above $10 to begin, HNT needs to break above its 50 and 200DMAs.
Both of these are sat between $5.40 and $5.70. A Convincingly breakout above $6.0 should send the signal that these levels are gone.
The next major area to target would be the $8.0 balance zone, followed by $10.
Helium Price Prediction as HNT Price Falls Under $5.50 – Can HNT Reach $10? / Source: TradingView
Helium’s tiny market cap of last only around $860 million suggests there is plenty of room for upside. $10 is easily achievable.
However, whether HNT will be a long-term successful invest remains highly speculative. Helium’s DePIN network is yet to secure any meaningful global adoption.
HNT Alternative to Consider – Wiener AI (WAI)
Investors tempted to jump into a risky, speculative coin like HNT obviously have a high-risk tolerance.
This appetite towards risk might be better served with a different strategy that, while also risky, has higher upside potential.
The strategy in question is presale investing, which involves buying the tokens of new crypto projects before they gain traction.
Presales are risky because projects can might to deliver on their promises or to achieve adoption.
However, when investors are able to reliably identify good projects, they can bag big gains.
A fun new AI meme coin called Wiener AI (WAI) has caught the attention of analysts at Cryptonews.
We Welcome Wiener Hoarders!
AI-Enhanced Trading. Sausages. A match made in heaven!
— WienerAI (@WienerDogAI) May 5, 2024
The Sausage dog-themed meme coin offers a suite of handy AI trading capabilities and has already raised over $1 million.
A HUGE MILESTONE!
Just WAIT until you see what we have in store.
— WienerAI (@WienerDogAI) May 4, 2024
Interested investors need to move quickly, as when the presale reaches $1.1 million, the WAI price will rise.
Currently priced at $0.000703, investors are buying WAI at a market cap of around $45 million.
But investors could be looking at gains of 10x or more if WAI can become a market leader.
Not only is WAI an exciting meme coin with AI capabilities, but it’s also a passive income gem.
20% of the supply has been allocated to staking rewards. Presale investors are currently earning a massive 817% APY, as per the project’s official website.
Let us do the heavy lifting.
You just chilllllll
Staking Rewards Currently At 941% pic.twitter.com/uTq71ylxTF
— WienerAI (@WienerDogAI) May 4, 2024
At this rate, investors can double their initial presale investment in only around one month.
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