Hedera Hashgraph (HBAR) Breaks the Resistance at the $0.0600 Mark

The bulls in the Hedera Hashgraph market have kept on bashing the bears to recover higher prices. Here, it can be seen that prices in this market have increased by a whopping 9.13% in 24 hours. And it appears that buyers are still targeting higher price levels at the moment.

Hedera Hashgraph Statistics:
HBAR Cash Value Now: $0.06052
HBAR Market Cap: $1,981,639,902
Hedera Hashgraph Circulating Supply: 32,559,526,344
HBAR Total Supply: 50,000,000,000
HBAR CoinMarketCap Ranking: 30

Major Price Levels:
Top: $0.06052, $0.06130, and $0.06160
Base: $0.06000, $0.05950, and $0.05900

Hedera Hashgraph Bulls Are Maintaining Dominance in the Bear Region

As earlier mentioned, Hedera Hashgraph’s price has ramped up significantly and seems to communicate that buyers are dominating the market at this point. Earlier this month, price action seemed to have rebounded off the trendline drawn on this chart. Since then, price action has kept on retracing higher levels. Currently, price action has broken above the 38.20 Fibonacci Retracement level, bringing prices to settle around an earlier predicted resistance mark of $0.06070.

Meanwhile, the Stochastic Relative Strength Index (RSI) indicator lines keep on rising towards the overbought region. And this is hinting that buyers may march onward to higher price marks in this market.

HBAR Is Facing Resistance Between the 38.20 and 23.60 Fibonacci Retracement Levels

Although price action even in the HBAR 4-hour market has largely continued on the upside path, headwinds seem to be having some minor influence. The previous trading session saw prices push the highest limit of the Bollinger Bands Upwards. Subsequently, minor corrections have resulted. However, price action stays largely above the middle band of the Bollinger Bands indicator.

Additionally, the RSI lines keep rising upwards following a recent crossover near the 50 mark of the indicator. Summing up all signs coming from Technical Indicators, we can conclude that buyers are more favorably favored in this mark, and more profit may be recorded towards the $0.06150 mark.

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