Tailwind May Continue to Push the Price of Hedera Hashgraph (HBAR) Higher

The HBAR price has reclaimed the second spot on the daily crypto mover’s list. The price of this crypto has moved up by 9.5% today. This performance seems to be revealing that some profits may be up for grabs for traders in this market.

Hedera Hashgraph Analysis Data:
HBAR value now: $0.0947
HBAR market cap: $2,429,379,532
Hedera Hashgraph moving supply: 26,051,470,159
Hedera Hashgraph Total Supply: 50,000,000,000

HBAR Coinmarketcap ranking: #27

Major Price Levels:
Top: $0.0947, $0.0977, $0.1000
Base: $0.0927, $0.0907, $0.0887

Hedera Hashgraph (HBAR) Price Action Is Bullish

Price action in the HBAR/USD daily market continues to trade in the green, as the tailwind continues to push prices higher and higher. Today, Hedera Hashgraph price action has extended its move above the Fibonacci level of 23.60. This is happening after a green price candle poked through the aforementioned Fibonacci resistance level. Furthermore, both the Stochastic RSI and the MACD indicator lines continue to climb toward higher levels. The RSI lines are now at the 85 and 61 levels of the indicator, which reveals that upside momentum is growing. Likewise, the MACD lines, as well, keep rising while the bars of this indicator continues to appear green and taller. Both the behavior of the MACD and RSI indicators show that upside momentum is growing in this market.

Hedera Hashgraph (HBAR) Is Resisting Headwind

Coming to the HBAR/USD four-hour market, we could see that price action in this market seems to be resisting the effect of downward forces. Two bearish price candles have formed on this chart, with the two candles remaining at almost the same spot. Also, the RSI indicator has given a crossover in the overbought zone, however, these lines seem oriented sideways rather than downwards. Meanwhile, the MACD indicator curves are also maintaining their upward trajectory. Although the bars of this indicator are portraying the effect of downward forces by turning pale green, nevertheless, we can assume that bulls in this market are putting up a good fight against bears. So, if bulls can hold their ground above the $0.0935 level, Hedera Hashgraph price may keep journeying toward the $0.1000 mark.

Buy HBAR on eToro