HEDERA Price Analysis: The Struggling HBAR Price is Finally at a Slight Uptrend Movement

• The bears pushed the HBAR price after the waves of the uptrend, and now it has drawn some buyers who are helping in the rebound over the daily price chart.
• The technical indicators over the daily price chart superficially support the bullish movement.
• The HBAR/BTC pair is at 0.000003079 BTC with a gain of 1.46%.

The most popular, resilient, and enterprise-grade public network for the decentralized economy is Hedera, which enables both individuals and companies to develop robust decentralized apps.

HBAR, unlike the majority of other cryptocurrency, is not based on a traditional blockchain.

The HBAR price surfed over the waves of uptrend and was pushed by the bears after, which now has managed to attract some buyers which are helping with the recovery over the daily price chart. As the coin is not based on the traditional blockchain its price is less bothered by the traditional crypto, Bitcoin. The trading volume is at a loss of more than 45% in just 24 hrs which needs to be recovered which in turn will pump the price.

The current price for one HBAR coin is hovering at 0.071 USD which is at a gain of 1.90% in its market capitalization in the last 24 hrs. The coin has a trading volume of 27.2 million which is at a loss of 45.23% in the 24 hrs trading session and a market cap of 1.5 billion. The volume market cap ratio is 0.02079.

What do Technical Indicators Suggest

The indicators show the volume has just approached the average which shows the signs of recovery.

The MACD indicator displays the MACD line is moving above the MACD signal line but the green histograms have started fading over the daily price chart, which signifies the bears are not just watching, the lines are moving equidistantly which makes it difficult to predict the next move. Whereas the relative strength index shows the increased buyings which makes clear that the bulls are also puting some efforts in supporting the price. The RSI value is approaching 55. The investors can make a good entry to the market now.

Conclusion

The HBAR price surfing over the waves of uptrend was pushed by the bears and now has managed to attract some buyers which are helping with the recovery over the daily price chart. The trading volume is at a loss of more than 45% in just 24 hrs and needs to recover really quick. The technical indicators indicate the bulls’ side is a bit heavier this time so the investors can enter the market, but needs to take care about the uncertainty in the current market conditions.

Technical levels

Resistance levels: $0.078 and $0.098

Support levels: $0.063 and $0.057

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.