Helium’s HNT token has surged 10% to approach a key resistance level near $1.71. On-chain analysis indicates a significant drop in sending addresses, suggesting reduced selling pressure as holders anticipate further gains. While network revenue is rising, trading volume recovery remains muted, presenting a potential hurdle for a sustained price breakout.
The cryptocurrency Helium [HNT] extended its weekly gains with a 10% surge, pushing its price toward the next key resistance zone around $1.71. Momentum is building for a potential continuation of the rally.
Analysis of Glassnode’s on-chain data indicates a significant reduction in sending addresses over a 24-hour period. This suggests reduced selling pressure as most investors are choosing to hold for further gains.
The metric reflects growing network participation and broader distribution of the token. When supply tightens during a rally and demand persists, prices are more likely to continue rising.
Data from Token Terminal shows Helium’s revenues accumulated by long-term holders have steadily increased over recent weeks. This often strengthens price stability during pullbacks.
However, trading volume remains relatively muted compared to a broader multi-week decline despite recent gains. For the rally to accelerate decisively beyond $1.71, sustained volume expansion will be necessary.
The immediate resistance at the $1.71 price level is the next key target if bullish momentum is sustained. On‑chain sentiment shows reduced selling and rising holder revenues despite limited trading volume gains.
If volume strengthens while sending addresses remain low, Helium could break above $1.71 and extend its rally. Conversely, fading participation would likely lead to consolidation below this resistance.
