Hedera (HBAR) Price Forecast: Testing Resistance
The price of Hedera (HBAR) has been experiencing significant volatility in recent months, with periods of downtrends followed by strong upward movements. Despite this, the altcoin has remained below the psychological level of $0.1000. However, the north-moving Relative Strength Index (RSI) indicates rising momentum, and the price is currently testing the upper boundary of a descending parallel channel.
On September 13, HBAR saw a breakout of 15%, but faced resistance from the 50-day Exponential Moving Average (EMA) at $0.0546. This pushed it back into the bearish channel. Nevertheless, the momentum indicator suggests growing momentum and a potential breakout above the 50-day EMA.
If the price continues to rise, it could reach the supply zone marked by the 100-day EMA at $0.0630. This would represent a 20% increase from current levels. However, this zone is expected to have significant selling pressure and could result in a pullback.
On the other hand, if HBAR is rejected at the upper boundary of the channel and falls below the midline at $0.0451, it could indicate the start of a new downtrend. A breakdown of this support level could lead to a further decline below the lower boundary of the channel at $0.0366.
Introducing BTCBSC: The Next Big Thing?
While Hedera (HBAR) has been making waves in the crypto market, another token called BTCBSC is gaining attention for its potential. BTCBSC offers investors an opportunity to experience what they may have missed with Bitcoin back in 2011.
BTCBSC is currently in its presale phase, and it has already raised nearly $2 million. It offers the same block rewards as Bitcoin but at a low entry price of $0.99, reminiscent of Bitcoin’s early days.
About BTCBSC
BTCBSC is a BEP-20 version of Bitcoin built on the BNB Smart Chain. Although it draws inspiration from Bitcoin, it is a separate project. Staking is one of the primary ways to earn passive income with BTCBSC, and it encourages community involvement and reduces selling pressure.
However, investors should be cautious of fake profiles and scams related to BTCBSC. It’s important to verify the legitimacy of any accounts or platforms before making any purchases or investments.
Hot Take: Diversify Your Crypto Investments
The Hedera (HBAR) price has shown both volatility and potential for growth in recent months. However, with the emergence of tokens like BTCBSC, investors have more opportunities to diversify their crypto holdings and potentially find even better prospects. While HBAR continues to test resistance levels, BTCBSC offers a unique investment opportunity reminiscent of Bitcoin’s early days. As always, it’s essential to stay vigilant and avoid falling for scams or fake profiles when exploring new investment options in the crypto market.
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