Hedera Hashgraph (HBAR) Regains Upside Traction

Hedera Hashgraph has once again appeared in the second spot on the daily crypto top movers’ list. The HBAR price has ramped up by an impressive 8.55%. This occurrence is communicating that price action is ready to continue to advance toward the higher price mark that was earlier predicted about three sessions ago.

HBAR Statistics:
Hedera Hashgraph Value Now: $0.05691
Hedera Hashgraph Market Cap: $1,872,525,618
HBAR Circulating Supply: 32,559,526,344 HBAR
Hedera Hashgraph Total Supply: 50,000,000,000 HBAR
HBAR CoinMarketCap Ranking: 30

Major Price Levels:
Top: $0.05691, $0.05800, and $0.05900
Base: $0.05600, $0.05500, and $0.05400

Hedera Hashgraph’s Bulls Are Revived

Price action in the Hedera Hashgraph daily market has significantly increased, as its support at the 61.80 Fibonacci Retracement level continues to hold. Buyers seem to have overpowered the headwinds at this support level. As a result, buyers were able to cause a significant price increase, bringing trading activities above the 50 Fibonacci Retracement level.

The appearance of a long shadow on the last price candlestick shows that headwinds have acted in the ongoing session, but prices remain above the $0.05600 price mark in the meantime.

Meanwhile, the Stochastic Relative Strength Index (RSI) indicator continues to indicate that upside momentum is still on the increase as its lines keep rising into the overbought region.

HBAR Remains Atop Headwinds

Price action in the HBAR 4-hour market reveals the presence of headwinds. The last price candle on this chart has significantly corrected prices back towards the uppermost limit of the Bollinger Bands indicator. However, trading continues to occur above the mentioned part of the indicator.

Furthermore, careful observation will reveal that prices have increased from $0.05691 to $0.05699. Consequently, this reveals that bulls seem to have continued to beat back bears at this point. In addition, the Moving Average Convergence Divergence MACD indicator lines continue to rise above the equilibrium level while its bars remain green. Therefore, traders can anticipate further price increases toward the $0.05850 mark.

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