Technical analysis of $HBAR
Current price and market performance
Current price: $0.288 (down 15.42% in the last 24 hours).
Volume: Recorded a massive trading volume of $1.83 billion in 24 hours, reflecting strong investor interest, despite the recent correction.
Weekly Range: The coin is up 108.87% over the past week, making it one of the best performing coins. Its recent high was $0.3922.
---
Current technical analysis
1. Technical indicators:
RSI (Relative Strength Index): At 59, it indicates that the currency has exited overbought areas but is still in a stable uptrend.
MACD: Shows a decline in bullish momentum with bearish signals crossing over on the daily time frame, indicating a possible continuation of the correction in the short term.
Bollinger Bands: The current price is at the lower end of the band, which may show an opportunity for a bounce if the market holds at current support.
2. Support and resistance:
Key support levels: $0.277 and $0.245 (the latter is considered a very strong support level based on previous moves).
Resistance levels: $0.315 and $0.35.
3. Price patterns:
The currency is showing signs of forming a bullish flag pattern if the price bounces off the current support levels, which could boost the possibility of resuming the uptrend soon.
---
Exciting news and developments
Brian Brooks, a member of the Hedera board of directors and former head of Binance US, has been nominated to head the US Securities and Exchange Commission. This news has lifted market sentiment and increased demand for the coin.
Technological development: Hedera is improving its ecosystem by expanding into decentralized applications (dApps) and supporting high-speed, low-cost transactions, making it a strong competitor in the blockchain sector.
---
Future expectations by 2025
1. If HBAR can maintain its current momentum and expand adoption of its technology, it could reach $0.75-$1.00 levels by 2025.
2. This scenario is dependent on continued positive market support and increased demand for services connected to the Hedera network.
---
Recommendations for investors
Short-term speculation: There may be further correction, so buying at strong support levels ($0.277 or lower) can be considered.
Long-term investment: Hedera shows promising potential, and gradual entry (Dollar-Cost Averaging) is recommended to reduce the impact of price fluctuations.
