Hedera Hashgraph Starts a Recovery

The general crypto market took a shock when Bitcoin dipped below the $95,000 threshold in the last 24 hours. This affected most major cryptocurrencies, including the HBAR token, which crashed below the $0.3000 threshold. However, today’s trading activity has printed a recovery of 11.41%. Let’s take a closer look at the market below in more detail.

Hedera Hashgraph Statistics:

HBAR Price: $0.2956

Hedera Hashgraph Market Capitalization: $11.06B

HBAR Circulating Supply: 38.22B

Hedera Hashgraph Total Supply: 50B

Hedera CoinMarketCap Rank: 18

Key Price Levels:

Resistance: $0.3000, $0.3500, $0.4000

Support: $0.2500, $0.2000, $0.1500

Hedera Hashgraph Attempts a Recovery Past the $0.3000 Price Level

The HBAR token has seen a moderate upside recovery today, considering metrics as presented by the daily movers list. However, the token’s price chart seems to present the price movement of the token more clearly. The last price candle on the chart has appeared above all the Moving Average (MA) curves.

This is so, despite the sudden sharp downward retracement. Meanwhile, the Stochastic Relative Strength Index (RSI) lines still have a downward trajectory as it has fallen deep into the oversold region. Be that as it may, since price action remains above all the MA lines, it seems likely that the market price action may progress upward.

HBAR Market Stays Consistent with Upside Retracement

The Hedera Hashgraph 4-hour price chart has revealed that upside forces have been causing an upside retracement since the past 4-hour session. The ongoing session has stayed on the same track, bringing the token’s price towards recovering above the $0.3000 threshold.

Yet, price action remains below the 20- and 50-day MA lines. Nevertheless, the token has a short-term bullish outlook, considering price movement and the trajectory of the Stochastic Relative Strength Index (RSI). Therefore, it seems a fair target should traders use crypto signals with targets around $0.3250.

Start using a world-class auto trading solution.