YEREVAN (CoinChapter.com) — Helium’s HNT token just printed a double bottom on the 4-hour chart, hinting at a possible trend reversal. At the same time, the SEC officially dismissed all claims against the Helium Foundation, closing a major legal chapter. Together, the price action and regulatory update point to renewed momentum in the HNT market.
HNT Double Bottom Pattern Shows Strong Reversal Signal
The chart shows a clear double bottom formation between April 3 and April 9. HNT dropped to around $2.25, bounced to near $2.65, and then retested the $2.25 level again before surging higher. This pattern often signals a strong reversal from a downtrend to an uptrend.
The price has already broken above the neckline of the double bottom, around $2.65, and is currently trading near $2.95. This breakout suggests that bulls have regained control. Volume also spiked during the breakout, which confirms the strength of the move.
The Relative Strength Index (RSI) climbed from oversold levels near 30 to around 61, indicating growing bullish momentum. Also, HNT moved above its 50-period EMA, which now acts as dynamic support near $2.74. This shift adds further support to the reversal thesis.
SEC Lawsuit Dropped: Major Win
On April 9, the U.S. Securities and Exchange Commission (SEC) filed a motion to dismiss its lawsuit against the Helium Foundation. The court approved the motion, meaning the case is now officially closed. This ends a legal dispute that had raised concerns across the crypto and Web3 space.
According to Helium’s official blog, the dismissal came without any settlement, fine, or admission of wrongdoing. The SEC dropped all claims and did not classify Helium’s HNT or MOBILE tokens as securities during the proceedings.
The Foundation emphasized that the lawsuit never involved any accusations of fraud or harm to users. The SEC’s case mainly focused on whether Helium’s early activities around token sales violated securities laws. With the dismissal, that regulatory uncertainty has been removed. This decision provides much-needed legal clarity. It allows Helium to continue expanding its decentralized wireless network without legal distractions. The Foundation also said this outcome reinforces the rights of open-source developers and builders who operate in the Web3 space.
Notably, Helium’s stance was firm throughout. Specifically, the team refused to settle or compromise on its principles. The dismissal now sets an important precedent for other blockchain projects under regulatory scrutiny.
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