HBAR Price Prediction 2023-24: Will Hedera Cross 0.0900?
HBAR is a platform that offers a fast, secure, and scalable solution for the decentralized economy, using a new consensus algorithm instead of traditional blockchain technology. HBAR crypto is the native currency of the Hedera network, and it has two functions: it is the fuel for network services, such as transfers, smart contracts, and token minting, and it is also the stake for network security.
HBAR crypto has a limited supply of 50 billion HBARs, and its high speed and low cost make it ideal for various use cases.
HBAR currently trading at $0.05324048, with a 0.45% increase in the last 24 hours. Its price saw a -0.03% change in the last 7 days with a market capitalization of $1.726 Billion.
Hedera Hashgraph’s trading volume is 21.716 Million for the last 24 hours and 5.993 Million for the last 10 days. Crypto is aiming to break out of the 200-day SMA. The crypto’s next move will depend on whether it can overcome or bounce off the pattern.
Crypto is seeing more trading activity as the market mood is positive. The price is challenging the upper limit and is on track to surpass the 200-moving average.
HBAR Price Technical Analysis
ss by shubhamsm006 on TradingView.com
Hedera Hashgraph’s price has been heading towards 200 SMA which shows the influence of bulls in the market. If bulls continue to elevate the market, it could start an uptrend.
The technical indicators MACD, RSI, and super trend are giving bullish signals for crypto. The MACD line has crossed beyond the signal line, showing bullish momentum. The RSI is beyond 50, showing positive momentum.
The super trend line is below the price, supporting the uptrend. These indicators suggest that HBAR crypto is in a moderate bullish trend and may continue to climb if the buyers sustain the pressure.
Technical Levels:
- Support – The current support level is $0.05011.
- Resistance –The current resistance level is $0.0655.
Conclusion
A trendline and the 200-day moving average are two hurdles standing in the way of Hedera Hashgraph (. HBAR’s price is currently bullish. Hedera Hashgraph crypto also appears to be trending upward as indicated by EMA, RSI, and MACD indicators. Prior to making any future moves, traders and investors should be patient and wait for a clear breakout or breakdown of the range. If buyers support the crypto it will cross 0.0900 this year.
Disclaimer
The analysis given in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.
