Hedera Hashgraph is a revolutionary concept that empowers the Internet of Things. Achieved through the use of Hedera Hashgraph Consensus Algorithm, it offers major improvements over existing blockchains by reducing computational fees, increasing efficiency, and reducing transaction latency to close to zero.
HBAR’s price created an all-time high of $0.5701 on Sep 16, 2021, after which the profit booking sentiments took over. The coin was available at a price of around $0.70 from Oct 2018 to Jan 2019 until it reached resistance against a bearish market and started declining. For the remaining year, the coin traded between $0.4516 to $0.2256
- As HBAR’s price broke out of its long-range movement with strong volume, the market is showing bullish signs.
- The HBAR price breaks out of its range and trades above its 8- and 20-day exponential moving averages.
- With more purchase orders, key resistance has been flipped into support for HBAR’s price.
Hedera Hashgraph (HBAR)’s price continues to trend upward with a breakout from a downtrend range against tether (USDT). As the crypto market cap rose from its weekly low as the market continued to look promising, the Hedera Hashgraph (HBAR) price broke out of its long daily range, trending higher. (Source: Binance)
HBAR Price Analysis On The Weekly Chart.
Crypto markets received the relief, as most crypto altcoins expected. Despite recent price surges in most crypto assets, some altcoins remain range-bound.
In previous months, HBAR’s price did not break out with real volume, so it was stocked in a range-like box. Before breaking out and trending upwards, HBAR’s price moved between $0.05 and $0.077.
HBAR’s price may be set for a break out as the price rises towards the $0.1 region following a long-term movement and the month looking good for most altcoins.
The use case of HBAR has attracted a lot of traders, investors, and large organizations, which could influence the price of HBAR in the near future, as many predict HBAR will hit $1 in the near future.
- HBAR price resistance – $0.1.
- HBAR’s weekly support is $0.050.
HBAR Price Analysis On The Daily Chart (1D)
HBAR’s Relative Strength Index (RSI) is below the 50 mark on the daily timeframe, indicating low buy orders.
- HBAR price resistance – $0.1.
- The HBAR price is supported by $0.055 on a daily basis.
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