Hedera Hashgraph (HBAR) Rebounds Strongly

The Hedera Hashgraph market has surged upward by 8.35% today, securing the second spot on the daily top crypto gainers list. Additionally, the appearance of price candles is positive, suggesting that the market may be aiming for a nearby resistance level.

Hedera Hashgraph Statistics:

HBAR Current Price: $0.2346

Market Capitalization: $9.95B

Circulating Supply: 41.9B

Total Supply: 50B

CoinMarketCap Rank: 11

Key Price Levels:

Resistance: $0.2500, $0.3000, $0.3500

Support: $0.2000, $0.1500, $0.1000

HBAR Bulls Gain More Strength

After a brief period of price consolidation just below the $0.2000 level, Hedera Hashgraphprice activity has finally broken through this technical threshold. Moreover, price movements indicate that upside momentum has been gaining strength. As a result, the latest price candle is significantly larger than the previous ones and has surpassed the 20-day Moving Average (MA) line.

Additionally, the Stochastic Relative Strength Index (RSI) lines continue to rise sharply into the overbought region. However, these indicator lines are moving rapidly, which could lead to an early exhaustion of upward momentum.

Hedera Hashgraph Stays Poised to Hit the $0.2500 Price Level.

On the HBAR 4-hour chart, price action has advanced significantly. Although the ongoing session has formed a red-price candle, it remains above most of the MA lines. Furthermore, the 20- and 50-day MA lines have completed a crossover below the price action.

At the same time, the Stochastic RSI lines have reached the 100 threshold on the indicator and have been moving sideways for some time. While the terminals of these lines show a slight downward trajectory, they remain high in the overbought region. Although exhaustion appears imminent, traders can still maintain a bullish outlook, targeting the $0.2500 level at the very least.

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