Binance.US CEO Favors Helium for its Network, Time to Check?

The Binance.US CEO, Brian Shroder, revealed that he is eyeing a crypto project named Helium.

He said, “I really like Helium because it’s basically creating a network and a motivation to make a network stronger through cryptocurrency. So incentivizing people to go find dead spots where there are people that need network connectivity for your internet of things and perhaps in the future your phone, that’s amazing.”

Helium (HNT) is a decentralized blockchain-powered network for the Internet of Things (IoT) devices. Nodes come in the form of Hotspots and blockchain mining devices. Users who operate nodes can mine and earn rewards in Helium’s native cryptocurrency token, HNT. According to CoinMarketCap, Helium’s price today is $10.94 and has a market cap value of about $1.3 billion. Its market rank is 41, with a 24-hour trading volume of $14,626,372.

Looking at the 4H chart for HNT/USDT, the 4H candle bounced back after touching the support zone of $6.78-$10. Its price has been going sideways for almost two months and now planning to break out of the sideway zone. Furthermore, the 200 EMA is positioned above the candles. And we can also see that buyers are putting a buying block at $10.25. As the sideway zone is getting smaller, we can also anticipate that it will breakout the support zone from the support and go straight for a bullish run.

Since HNT/USDT pair candle already broke the sideway trend in the 4H and 1D charts, we may expect to see a retrace within the $10.9-$10 range. After the reversal signal, we can find an opportunity to hold the coin for a longer period.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.