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Hedera (HBAR) has seen a recent price surge, partly fueled by growing support for board member Brian Brooks—who was nominated as a candidate for U.S. SEC Chair by former President Trump. Additionally, Hedera’s involvement in the WISeSat.Space satellite launch with SpaceX is boosting demand.
HBAR Key Statistics
- Current Price: $0.14
- Market Cap: $5.13 billion
- Trading Volume (24h): $3.36 billion
- Circulating Supply: 37.6 billion HBAR
- Total Supply: 50 billion HBAR
- CoinMarketCap Ranking: #26
The cryptocurrency has faced a small decline in the last 24 hours, but its price has surged by more than 100% over the past week and month, providing a hopeful sign for investors.
HBAR/USD Market
Key Levels
- Resistance: $0.16, $0.18, $0.20
- Support: $0.12, $0.09, $0.06
Hedera (HBAR) has experienced a strong uptrend recently, breaking above the upper Bollinger Band, which reflects bullish momentum. Against the U.S. dollar, it is trading around $0.14. HBAR is facing immediate resistance at $0.16, with further resistance levels anticipated at $0.18 and $0.20 if the momentum continues. The upward trajectory is supported by the MACD indicator, where the MACD line is above the signal line, suggesting sustained bullish sentiment. However, a retracement is possible if the price fails to break the $0.16 level, which could bring it back toward the support areas.
On the downside, HBAR has support at $0.12, aligned with the middle Bollinger Band, which may act as a cushion in the event of a price drop. Additional support is seen at $0.09 and $0.06, which are crucial levels to monitor if bearish pressure intensifies. The wider Bollinger Bands indicate increased price volatility, and traders should watch for potential consolidation before any further major moves. Overall, HBAR appears to be in a bullish phase, but caution is advised near key resistance and support zones.
Hedera’s Meteoric Rise: Brian Brooks’ Nomination and Strategic Partnerships Drive Price Surge
With Donald Trump’s pledge to dismiss SEC Chair Gary Gensler—a figure widely loathed in crypto circles—anticipation is mounting for his successor. Trump has proposed Brian Brooks, a Hedera Board Member, as a candidate, which has ignited enthusiasm among Hedera supporters.
Yet, Brooks’ nomination isn’t the sole catalyst behind Hedera’s meteoric rise, with its price swelling by 138% over the week and an astonishing 155% for the month. Some investors are now heralding HBAR as the “Solana of 2024,” as it surges in popularity. Notably, Hedera’s alliances with influential institutions like the Nairobi Securities Exchange and Kenya’s principal securities exchange are fueling its momentum.
Exploring the Possibility of HBAR-SpaceX Collaboration
In addition, Hedera’s innovative technology will support the WISeSat.Space satellite launch, slated for January 2025—a pioneering mission with SpaceX to enable the first-ever direct space-based exchange. This mission marks a milestone, advancing encrypted satellite communications and groundbreaking blockchain integration.
HBAR/BTC Performance Insight
The HBAR/BTC daily chart shows strong bullish momentum, with prices breaking above the upper Bollinger Band, signaling increased volatility and an upward breakout. After reaching a high of 0.00000198, the price has since pulled back to 0.00000154, suggesting possible profit-taking among traders. A bullish MACD crossover supports this upward trend, indicating sustained buying pressure. If the 0.00000135 support level holds, HBAR may attempt to retest the recent high; however, a failure to maintain this support could lead to a drop toward 0.00000120 or 0.00000088, where previous support levels may stabilize the price.
CryptoXman, a prominent figure in the cryptocurrency community, has recently taken to X to express his bullish sentiment on Hedera Hashgraph (HBAR). The analyst believes that the imminent approval of an HBAR ETF will trigger a significant influx of institutional investment, potentially sending the price of HBAR to new heights. In his opinion, the ETF approval could lead to billions of dollars flowing into Hedera, propelling the price of HBAR to a range of $1 to $1.50, with a potential maximum of $2.50 in this cycle.
$HBAR #ETF ETF approval is coming which will ultimately unlock huge institutional adoption and have inflows of BILLIONS in $$ on #Hedera, which will in turn send #HBAR to the moon 🌒 Well to $1 – 1.50c to a maximum in this cycle of a 25 X ($2.50c) Don’t fall asleep at the… pic.twitter.com/PNqk4zs1LR
— CryptoXman (@virage007) November 18, 2024
Alternatives to HBAR
Hedera (HBAR) distinguishes itself through its utilization of the Hashgraph consensus algorithm, which facilitates accelerated transaction processing, enhanced scalability, and improved efficiency compared to traditional blockchain technologies. This technological advantage has created a favorable environment for innovative projects like Pepe Unchained ($PEPU) to emerge.
Pepe Unchained’s recent presale success, garnering over $37.8 million, demonstrates substantial investors’ confidence. To further catalyze growth, the project has introduced a developer grant program aimed at stimulating the development of cutting-edge applications on its platform. As a result, Pepe Unchained’s visibility within the cryptocurrency landscape has increased significantly, driven by expanding community engagement and heightened media attention.
Pepe Unchained Launches Soon
As an Ethereum-based Layer 2 scaling solution, Pepe Unchained addresses the network’s scalability limitations while maintaining robust security. By providing rapid transaction processing, reduced fees, and augmented security features, $PEPU offers a highly efficient and cost-effective framework for the popular Pepe meme coin and potential future applications. With a focus on scalability, security, and community-driven development, Pepe Unchained is well-positioned to drive growth within the Pepe ecosystem and beyond.
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