Hedera Hashgraph price has risen by approximately 2.1% today. As a result, this cryptocurrency has risen to the second spot on the daily mover’s list. Let’s further examine its price action, to better discover what may soon happen in this market.
Hedera Hashgraph Analysis Data:
HBAR value now: $0.07393
HBAR market cap: $1,927,144,592
Hedera Hashgraph moving supply: 26,051,470,159
Hedera Hashgraph Total Supply: 50,000,000,000
HBAR Coinmarketcap ranking: #32
Major Price Levels:
Top: $0.07393, $0.07420, $0.07470
Base: $0.07390, $0.07350, $0.07310
Hedera Hashgraph (HBAR) Price Action Is Refusing to Retrace Lower Support Levels
The HBAR/USD price action has been above the middle limit of the Bollinger band for some time now. Also, we can just as well see that price action stays above the drawn trendline. However, technical indicators appear to be unstable on the daily market. If we examine the RSI indicator, we can see that its lines are poised to indicate a trend reversal. Likewise, the MACD lines appear to be rather mangled since the red bars started showing below their equilibrium level. Consequently, this seems to be revealing that bulls and bears are actively engaged in this market. Therefore, price action seems to lack a clear direction on this front.
Hedera Hashgraph (HBAR) Price May Keep Rising
Moving to the 4-hour chart, the behavior of price action seems to be indicating that the HBAR/USD price may keep moving upwards. Here, a green price candlestick can be seen sitting just on top of the middle limit of the Bollinger band indicator. The behavior of this price candle seems to reveal that the HBAR price may have found strong support, that may not be easily broken. Furthermore, the lines of the Stochastic RSI indicator are now moving upward from the oversold region. Also, the MACD lines are seen to be converging for a bullish crossover. Therefore, traders can anticipate that this crypto’s price may increase towards $0.07500.
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