Hedera (HBAR) Potential Short-Term Bullish Signal
Hedera (HBAR) has experienced a downward trend recently, with a 11.74% decline in its price over the past seven days. However, despite this bearish sentiment, there are signs that Hedera could experience a price surge in the near future. Here are some key points to consider:
– HBAR is currently trading below the 200-day Simple Moving Average (SMA), indicating a long-term bearish price movement.
– The Moving Average Convergence/Divergence (MACD) is also below the signal line with red histogram bars, further supporting the short bearish price movement.
– The Relative Strength Index (RSI) of 46.18 suggests that the price of HBAR is relatively neutral and has not reached the oversold zone yet.
– However, HBAR is trading slightly above the 50-day SMA, indicating a short-term bullish price momentum.
– Despite the ongoing bearish trend, Hedera still holds an 8.46% increase over the past 30 days.
Hedera’s Support and Resistance
The support level for HBAR is currently at $0.051, and if the bears maintain the selling pressure, the price could hit this level. A breach below this support could trigger more selloffs and push the price further down to $0.046. However, if there are positive developments in Hedera’s ecosystem, the bulls could push the price up to the resistance level at $0.062.
Hedera Could Soar Following Exciting Ecosystem Developments
Hedera Hashgraph has recently seen some exciting ecosystem developments that could potentially boost HBAR’s price. TYMLEZ, a company that provides blockchain-powered software solutions, has unveiled a carbon management tool built on Hedera called CarbonCentral. This tool aims to help businesses reduce or offset their carbon footprints, and its implementation could increase network activity on Hedera, thereby boosting the demand and price of HBAR.
Strategic Partnerships, News Could Trigger HBAR’s Surge
Hedera Hashgraph has formed strategic partnerships with various companies that have the potential to trigger a surge in HBAR’s price. One such partnership is with SaucerSwap Labs, which has listed HBAR on its decentralized exchange (DEX) SaucerSwap. Additionally, the introduction of the HashPack Wallet provides HBAR holders with easy access to decentralized applications (dApps), decentralized finance (DeFi), and non-fungible tokens (NFTs). These partnerships and news could increase the demand for HBAR and drive its price above the $0.06 price zone.
HBAR Best Alternative – SONIK
Sonik Coin (SONIK) is a new cryptocurrency that aims to revolutionize crypto engagement and investment, especially for beginners. It has gained attention within the crypto space and offers a unique staking program that allows users to earn passive income. Here are some key points about SONIK:
– SONIK is currently running its presale, with a single-tiered price of $0.000014 per token.
– The presale has already raised over $622,000, representing over 31% achievement.
– SONIK has a total supply of 299,792,458,000 tokens, and 50% of the supply is allocated for the presale.
– The staking program for SONIK offers high APYs and reduces selling pressure on the token.
– Prominent crypto YouTubers and analysts predict a massive price rally for SONIK.
Hot Take
While Hedera (HBAR) has been experiencing a downward trend, there are indications that it could see a short-term price surge. Positive developments in its ecosystem and strategic partnerships could drive the demand for HBAR and push its price above the $0.06 level. Additionally, Sonik Coin (SONIK) presents an alternative investment opportunity, especially for beginners, with its unique staking program and potential for high returns.
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