- HNT surged 88% after Celina, Texas adopted Helium’s wireless network for city-wide coverage.
- Short liquidations exceeded $125,000, adding fuel as HNT broke above a descending price channel.
- HNT faces $0.44 resistance, while a breakout could push the token toward the $0.53 target.
Helium — HNT, has delivered one of the market’s sharpest rallies this month. The token surged 88% on August 29, reaching $0.42. Trading activity also exploded as traders rushed into the move. A major wireless network adoption in Texas appears to have sparked the rally. Short liquidations then added more buying pressure. Now, traders are watching whether HNT can hold momentum and challenge higher resistance levels.
Texas Adoption Sends HNT Into Overdrive
Helium’s rally gained momentum after Celina, Texas adopted the Helium Network. The fast-growing city has faced increasing pressure on existing cellular infrastructure. Celina expanded by 25% within one year, according to the information provided. The city converted the entire city-wide Wi-Fi system into carrier coverage. The rollout uses Helium’s decentralized wireless infrastructure without requiring new towers. Residents can also receive 100GB of daily data through the network.
Helium announced the development through a company blog post. Crypto traders quickly picked up the news and increased buying activity. HNT then climbed rapidly as market attention shifted toward the project. The token jumped from roughly $0.21 to $0.43 within hours. Such a rapid move attracted short sellers expecting a reversal. However, those positions eventually added more fuel to the rally.
CoinGlass data showed HNT’s weighted funding rate falling to -0.63%. That reading meant short sellers faced elevated costs for maintaining positions. More than $125,000 in short positions faced liquidation afterward. The liquidation event marked HNT’s largest single-day short squeeze during 2026. Open interest also surged 556% to approximately $15 million. Trading volume reportedly reached $50 million, representing a 2,600% increase.
HNT Faces Major Resistance After Explosive Rally
HNT’s technical structure now looks considerably stronger after the breakout. The token moved above a descending channel that had restricted prices since June. Breaking that structure gave buyers a fresh technical signal. The 50-day EMA near $0.2257 now provides an important support zone. Holding above that average could help buyers maintain control.
A deeper pullback could bring the support level back into focus. However, HNT’s momentum indicators also signal caution. The daily RSI currently sits around 85, placing the token firmly in overbought territory. Such readings often appear during aggressive rallies. An overbought RSI does not guarantee an immediate reversal.
Strong trends can keep momentum indicators elevated for extended periods. Traders may therefore focus more closely on price action around key levels. The first major resistance zone sits near $0.44. HNT briefly reached that area before profit-taking pushed prices lower. A decisive close above $0.44 could strengthen the bullish setup.
