Helium Price Jumps 88% on Texas Adoption

Helium (HNT) price surged 88% on August 29, climbing to around $0.42 as a major network adoption announcement in Texas triggered heavy buying. The rally was accompanied by soaring spot and derivatives activity, while aggressive short positioning added fuel to the move.

The main catalyst was Helium’s announcement that Celina, Texas, has transformed its citywide WiFi infrastructure into carrier coverage powered by the Helium network. The deployment is designed to expand wireless connectivity for businesses and public locations throughout the city.

The development boosted optimism about Helium’s real-world adoption and sparked significant demand for HNT. CoinMarketCap data showed trading volume initially jumping 1,183% to $38.3 million, with HNT ranking among the crypto market’s strongest performers. Weekend liquidity conditions may have also amplified the price movement.

A short squeeze provided additional momentum. After HNT rapidly advanced from approximately $0.21 to $0.43, traders increasingly opened short positions expecting the rally to reverse. CoinGlass data showed Helium’s weighted funding rate falling to -0.63%, indicating heavy bearish positioning in the futures market.

Short liquidations reached about $125,000, marking HNT’s largest single-day short squeeze of 2026. Derivatives data also showed trading volume climbing roughly 2,600% to $50 million, while open interest surged 556% to around $15 million.

Technical indicators suggest HNT remains strongly bullish but increasingly overheated. Its daily Relative Strength Index reached 85, placing the token deep in overbought territory. Meanwhile, a rising Average Directional Index indicates strengthening trend momentum.

HNT pulled back after reaching an intraday high near $0.44 as some traders took profits. A sustained close above the $0.44 resistance level could open the door to the 327.2% Fibonacci extension near $0.53.

However, the extreme rally and overbought conditions create significant downside risk. If selling pressure accelerates and the short-term momentum fades, Helium price could retreat toward the 61.8% Fibonacci support level around $0.23.