Join Our Telegram channel to stay up to date on breaking news coverage
HBAR, the native token of the Hedera network, is on a hot streak, surging over 400% in the past month. As the bullish momentum continues, analysts are closely watching key resistance and support levels. With growing institutional interest, recent partnerships, and a promising future ahead, HBAR could be poised to break new highs.
HBAR Key Statistics
- Current Price: $0.24
- Market Cap: $9.16 billion
- Trading Volume (24h): $3.55 billion
- Circulating Supply: 38 billion HBAR
- Total Supply: 50 billion HBAR
- CoinMarketCap Ranking: #19
HBAR has experienced an impressive surge, gaining 426% over the past month. This remarkable rally has continued into the week, with the token rising by 63%. The recent performance positions it as one of the standout assets in the market.
HBAR/USD Market
Key Levels
- Resistance: $0.25, $0.30, $0.35
- Support: $0.20, $0.17, $0.14
The HBAR/USD daily chart indicates a sharp bullish trend, supported by a significant upward movement since mid-November. The MACD indicator shows a widening bullish crossover, reflecting increased buying momentum. The Zig Zag pattern highlights key price reversals, showing a consistent pattern of higher highs and higher lows. Immediate resistance is observed at $0.259, followed by $0.30 and $0.35. If the bullish momentum continues, HBAR could retest these levels or potentially target the $1 mark, fueled by market demand and overall crypto sentiment.
On the downside, support levels are noted at $0.20, $0.17, and $0.14. A retracement to these levels may occur if selling pressure intensifies or external market factors influence the price negatively. Traders should watch for a potential MACD divergence as a signal for trend exhaustion. If the price consolidates above $0.20, it could create a base for a renewed uptrend. Conversely, a break below $0.17 may prompt further declines towards the $0.14 support level.
Will HBAR Break the $1 Barrier Soon?
NoviqTech’s recent acquisition of 490,622 HBAR tokens, valued at $150,000, demonstrates growing institutional interest in Hedera’s distributed ledger technology (DLT). With this purchase, NoviqTech’s HBAR holdings now exceed 1.5 million tokens, signaling confidence in Hedera’s potential to drive innovation.
Will Hedera Outperform XRP?
The Increasing adoption of Hedera’s network for real-time auditing and traceability across industries could act as a catalyst for HBAR’s price growth. If the current momentum continues and partnerships expand, HBAR may be well on its way to breaking the $1 barrier. Positive market sentiment, combined with Hedera’s innovative capabilities, creates a favorable environment for sustained price gains in the near future.
HBAR/BTC Performance Insight
Like the HBARUSD, the HBAR/BTC chart also reveals a significant bullish breakout, propelled by heightened buying interest and robust momentum. The Zig Zag pattern underscores a series of higher highs and lows, signaling a clear uptrend. The MACD indicator further confirms this bullish momentum, with widening histograms and a positive crossover. Key resistance is currently at 0.00000268, the recent peak. On the downside, support levels are observed at 0.00000210 and 0.00000150, providing potential entry points in case of a pullback. Continued strength above resistance could push prices to new highs, while support holds the potential to stabilize any retracement.
In a recent post, @Shawn, a well-known X user referred to $HBAR as the “United Nations of the Internet,” raising speculation about its future. The post suggests that $HBAR may soon take on a much broader role, potentially overseeing more than just the Hedera network. This bold statement hints at the cryptocurrency’s growing influence and its potential to shape the future of digital infrastructure on a global scale.
🚨BREAKING: $HBAR has become the United Nations of the Internet and might soon be in charge of much more than just the Hedera network pic.twitter.com/c1WcqfoGEu
— Shawn (@oroogle) December 1, 2024
Alternatives to HBAR
Hedera’s groundbreaking innovations, strategic partnerships, and top 20 crypto ranking have solidified HBAR’s presence within the community. As the cryptocurrency landscape continues to evolve, pioneering projects such as Pepe Unchained ($PEPU) are emerging, poised to revolutionize the memecoin space. A highly successful presale, yielding over $64.2 million, has positioned $PEPU for success in capitalizing on the burgeoning popularity of memecoins while offering a distinctive value proposition.
By harnessing the power of Ethereum’s Layer 2 scaling solutions, $PEPU seeks to address the network’s scalability challenges, facilitating accelerated transaction processing, reduced fees, and enhanced security. This innovative approach has created a more efficient and user-friendly platform for memecoin enthusiasts.
Pepe Unchained Is Considered The Best Pre-sale Memecoin
Furthermore, Pepe Unchained’s developer grant program is cultivating a vibrant community of developers, encouraging the development of cutting-edge applications and tools that enrich the $PEPU ecosystem. Consequently, Pepe Unchained is well-positioned to become a leading player in the memecoin market, offering a compelling blend of entertainment, community engagement, and technological innovation.
Related News
- Hedera Price Prediction: HBAR Soars 38% As Trump Nominates Brian Brooks For SEC Chair And Analysts Say Consider This New Meme Coin For Parabolic Gains
- Department Of Government Efficiency Price Prediction: DOGE Soars 38% As Pepe Unchained Presale Blasts Past $60M – Next Coinbase Listing?
Most Searched Crypto Launch - Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured in Cointelegraph
- SolidProof & Coinsult Audited
- Staking Rewards - pepeunchained.com
- $40+ Million Raised at ICO - Ends December
Join Our Telegram channel to stay up to date on breaking news coverage
