A Solana (SOL)-based decentralized wireless network crypto project is skyrocketing after the U.S. Securities and Exchange Commission (SEC) dismissed its lawsuit against the protocol.

In a new thread on the social media platform X, the development team behind Helium (HNT) says that the regulatory agency has dropped its lawsuit against the crypto platform, which alleged that they violated securities laws.

According to a press release, Helium developer Nova Labs agreed to pay the SEC $200,000 to settle the accusation without admitting to any wrongdoing.

News of the dismissal caused HNT to rally as it went from a low of $2.62 on April 10th to a peak of $3.03 just a day later. It has since retraced and is trading for $2.96, a 9.9% increase during the last 24 hours.

The SEC, which originally filed the lawsuit in January, had accused Nova Labs of distributing unregistered securities.

“The SEC has agreed to dismiss its unregistered securities claims with prejudice. Helium Hotspots and the distribution of HNT, MOBILE, and IOT through the Helium Network are not securities. It also means that the SEC cannot bring these charges against Helium again.”

In a recent blog post, Helium says the dismissal of the case is a “landmark outcome” for the digital assets industry and DePIN (Decentralized Physical Infrastructure Networks) technology, which tokenizes real-world infrastructure.

“This landmark outcome is a pivotal turning point for the Helium community and the entire crypto industry, removing legal uncertainty for DePIN projects that use crypto incentives to build real-world infrastructure.

With the dismissal of the SEC’s unregistered securities claims with prejudice, the outcome establishes that selling hardware and distributing tokens for network growth does not automatically make them securities in the eyes of the SEC.”

This marks another lawsuit dropped by the SEC against crypto giants this year after President Donald Trump took office. Other dissolved cases include ones against the crypto exchanges Kraken and Coinbase, retail trading giant Robinhood, non-fungible token (NFT) marketplace OpenSea, and crypto wallet developer MetaMask.

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Sonic token has caught the eye of traders after a powerful bullish move from support. With price now consolidating under key resistance, the next breakout could be just around the corner—here’s what the chart is telling us.

Sonic (S) token has shown some serious momentum lately, catching the attention of traders with a powerful bullish engulfing candle. With price now grinding against key technical levels, the next few moves could be crucial in determining whether we see continuation—or signs of a reversal.

Key points:

• Strong bullish engulfing candle from the value area low and daily support at $0.39
• Price consolidating just under point of control, hinting at vertical accumulation
• $0.52 liquidity target aligns with 0.618 Fibonacci and VWAP resistance

The recent price action on Sonic Token has been notably impulsive, starting with a strong bullish engulfing candle that formed right at the value area low. This region also aligned perfectly with daily support around $0.39, giving the move significant technical weight.

The surge was accompanied by a rising volume profile, confirming buyer interest and demand at that level. Following the push, price now finds itself consolidating near the point of control—typically a sign that the market is building a base, not reversing.

Potential vertical accumulation

If Sonic continues to trade above the point of control, this could signal the presence of vertical accumulation. This kind of price action, characterized by higher lows on the lower time frame within a compact trading range, often leads to further bullish continuation.

One critical area to watch is the resting liquidity around $0.52. This level stands out as an untapped high and a magnet for price, especially with the 0.618 Fibonacci level and VWAP resistance stacked just above it.

Reaching that $0.52 region makes both technical and psychological sense. The theory of liquidity suggests that markets seek out areas of uncollected orders. Once price had taken the lower-side liquidity and bounced hard, the next logical move is to target the highs.

That target also lines up with the value area high of the current range, meaning a tap of that level would complete a full range rotation from low to high. If Sonic starts distributing around that resistance area, that could mark the start of a longer consolidation phase.

Right now, the chart is still showing signs of strength. There are no clear signals of weakness, and vertical accumulation patterns tend to continue until exhaustion. While it’s smart to be cautious near resistance, prematurely shorting Sonic without a clear rejection could be risky. For now, the bulls are in control—and the $0.52 target remains in play until proven otherwise.

Hyperliquid just pulled off a strong bounce back into its range after faking out to the downside. In this breakdown, we’ll go over what levels matter next, and where price could be heading if momentum continues.

Hyperliquid (HYPE) has recently shown strong signs of a bullish reversal following a deviation below its range low. With a confirmed reclaim and a clean bullish retest, the current price structure suggests that higher prices are on the horizon. As long as the deviation low remains intact, traders should keep a close eye on this setup as it continues to build bullish momentum.

Key Points:

• Price deviated below $9.34 before reclaiming the range — a failed auction signal
• Bullish retest of the range low aligned with the 0.618 Fibonacci retracement
• Current consolidation could lead to a breakout toward $18.50 — the range high

Deviation of the range low

Hyperliquid established a key swing low at $9.34 before quickly reclaiming the previous trading range. This price action formed what is considered a deviation or failed auction, a signal that sellers were unable to push the market lower and were instead trapped beneath the range.

The reclaim was not just emotional but technical, with a precise bullish retest of the range low that aligned perfectly with the 0.618 Fibonacci retracement level — a well-respected area of interest among technical traders.

Following this reclaim, two consecutive bullish engulfing candles confirmed renewed momentum, pushing price back into the point of control the zone where the highest volume has been traded within this range. This shows that market participants are stepping back in with conviction.

Now, price action finds itself consolidating in the middle of the range, forming a textbook bull flag or shallow pullback pattern. If this resolves upward, it could provide a springboard toward the next major resistance zone.

The next upside target lies at $18.50, the top of the range and another 0.618 Fibonacci resistance level. As long as the deviation low at $9.34 holds, this structure remains firmly bullish. However, traders should watch closely: any breakdown below that level could invalidate the setup and spark a downside move.

For now, the bullish scenario remains valid. This setup offers a strong opportunity for short-term swing traders, but only with proper confirmation. Wait for a breakout above local resistance with strong volume support before entering. Patience in such setups often leads to better trade entries and reduced risk exposure.