HBAR Price Analysis: Climb In Range, SportsIcon Launches NFT Offer On Hedera Hashgraph

  • Hedera Hashgraph (HBAR) climbs for third day in a row
  • As of this writing, HBAR was trading hands at $ 0.213, up 8.57% in the past 24 hours and 1.01% weekly.
  • SportsIcon Partners With The Greatest Athletes Of All Time To Turn Their Stories Into NFT On Hedera Hashgraph

Sentiment in the cryptocurrency market appears to be turning positive after a volatile May. Hedera Hashgraph (HBAR) climbs for the third day in a row after hitting support at around $ 0.17 on June 12. At the time of writing, HBAR was trading hands at $ 0.213, up 8.57% in the past 24 hours and 1.01% weekly. Hedera Hashgraph has a current market cap of $ 1.79 billion and a trade volume of $ 137 million in the past 24 hours. SportsIcon, one of the world’s leading sports platforms, partners with the greatest athletes of all time to turn their stories and moments into NFT on Hedera Hashgraph. Gianluigi Buffon, Roberto Carlos, Fenerbahçe, Corinthians and others have reportedly announced NFTs on SportsIcon. Chris Worsey, Co-Founder of SportsIcon said “After evaluating various public networks and blockchains, we found that Hedera’s performance, cost and environmental friendliness appeared to be unmatched. “

Key Levels
Resistance levels: $ 0.3,500, $ 0.3,000, $ 0.2,500
Assistance levels: $ 0.2,000, $ 0.1,500, $ 0.1,000

HBAR / USD daily chart: interval

HBAR / USD Daily Chart

Hedera Hashgraph has been trading in a sideways range since mid-March. This marks a phase of consolidation within the larger uptrend that took the asset to all-time highs of $ 0.459 on March 15. The RSI sliding towards the 50 thresholds suggests a prolonged consolidation. After deviating from the highs of $ 0.374 on May 18, HBAR / USD is now based on the MA 200 ($ 0.182) which offers strong support on the downside and from which it resurrected a positive ascent on June 12.

Above current levels, the first target for the bulls would be $ 0.247, before the focus shifts to the upper end of the recent range at $ 0.262 coinciding with the MA 50. A breakout of this level would signal the The broader uptrend continued, opening the door for a test of the $ 0.37-0.38 region ahead of all-time highs of $ 0.459.

4 hour HBAR / USD chart:

4 hour chart HBAR / USD

On the 4-hour chart, Hedera remains in a wide price range capped above the moving averages. However, HBAR gained ground above the MA 50 ($ 0.2037) in today’s trading to hit highs of $ 0.2214. Gains above the price zone of $ 0.2214 could push the HBAR / USD pair up towards the MA 200 ($ 0.243). Overcoming this limit could propel the price towards the resistance belt of $ 0.36 to $ 0.40.

Conquering that too could spark optimism among buyers likely to challenge all-time highs of $ 0.459. Alternatively, if sellers take control, the first area to offer support can be around $ 0.203, coinciding with the MA 50. Moving down, the $ 0.187 level could stop any decline before a higher barrier. hard only appears at the lower end of the range at $ 0.151. In summary, the neutral to bullish HBAR / USD tone remains. A break out on either side of the range will reveal the next directional wave for the pair.

To note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or featured product or event. We are not responsible for your investment results

Image Credit: Twitter


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