Hedera Hashgraph, the sleeping giant of the cryptocurrency market was assumed to surge by a large margin with the market turning bullish. HBAR price has climbed by 1.05% over the last day to reach $0.058256. It is one of those coins that includes strong long-term technicals, prominent participants, and investors.
Prices have fluctuated historically, and different volumes were seen at different levels. The relative strength index has been stable between levels 30 and 70. It is observed falling below the level and reaching 25, which indicates that the asset has been sold for less than it is worth and that its price will likely rise. One anticipates a rise in the RSI.
The RSI shows a 2 percent divergence between $30.82 and 32.95. Watching the daily divergence, it can be seen that we are approaching $36.73. The crucial value to search for is $0.069. Prices can be observed falling by $0.06 to the base amount of $0.051.
While the price currently appears to be stuck up between the 200-day & 50-day MA levels which are acting as resistance & support levels. The upcoming price action may determine the next possible move of the asset as a move beyond the 200-day MA could invite the bulls, if not the bears may drag the price below the 50-day MA at $0.05.
It’s anticipated that HBAR price will make a decisive move back up, comparable to the initial wave reaching $0.064. This suggests a movement of 85% to 90%. The hourly time frame reveals more divergence. The bottom two, currently trading at $0.057, are expected to increase once again in the short term, soaring to the trend line at $0.085 before falling back to $0.076.
Was this writing helpful?