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Hedera Network, native coin HBAR, is making waves in the crypto market and projecting a significant surge in potential in the coming weeks. The coin is already boasting over 100% in its 24-hour trading volume, while its market value hints at increasing significantly before the weekend.
State of @hedera Q2 2023
Despite a bear market and hostile US regulatory regime, Hedera continues to show resilience.
In Q2, Hedera revenue increased 67% QoQ, added its 29th council member, announced an EVM strategy, and saw increases in all Network Services.
— Nick Garcia (@NickDGarcia) July 28, 2023
HBAR’s current surge and bullish outlook could be attributed to the increased buying activities in its market and the new social media network, Calaxy, garnering speculations across the crypto community.
HBAR will likely become a high-rewarding coin in the crypto market.
HBAR’s Overbought Condition Has Triggered Divergence Moving Averages – What’s Next?
HBAR price is 12.40% up, trading at $0.07226 in the last 24 hours as of 6:17 am EST. Also, its trading volume has shot up by 102%, recording over $351 million today.
While these surges show the increased buying activities across the asset’s market, the technical analysis could hint at what to expect next.
HBAR/USD Daily Chart
The two consecutive green candle sticks above show the increased buying pressure on HBAR’s market in the last two days.
This reflects on the Bollinger bands, diverging from each other, showing that HBAR’s market condition is overbought and could trigger price correction in the coming days.
Also, HBAR’s Relative Strength Index (RSI) is at 76.45, moving in the overbought region (above 70). This shows the increased buying activities in the crypto market, suggesting more rallies ahead of the potential price correction.
Since the asset is selling more units within a short period, it’s likely to reach its resistance at $0.07953 faster, thus triggering a consolidation phase on HBAR’s price.
Despite the potential consequences of this overbought condition, HBAR still has bullish solid momentum, showing its tendency to break above the nearest resistance at $0.07332 before the next 24 hours.
The overbought market condition above shows that Hedera’s coin, HBAR, has reached new high prices. Profit-taking investors and traders may decide to sell off their holdings at these high prices, thus, resulting in a price correction and consolidation for the coin.
Notwithstanding, HBAR has support at $0.0593 and $0.0694. So, if the consolidation phase pushes the coin’s price down, it’s likely to rebound shortly at its support levels.
Factors That Could Affect HBAR’s Price Movement
The excitement and speculation garnered by the new social network, Calaxy, is a factor that could uphold HBAR’s surge throughout this week. The Hedera network onboarded a social media app expected to attract a mainstream audience to the network.
Before we depart for the weekend, I, on behalf of the @CalaxyApp team, wanted to thank the @hedera community for embracing Calaxy MVP that we released yesterday morning 🥹
It’s been a difficult 3 years and our team worked so hard for this moment but boy was it worth it 😱
1/
— Solo Ceesay (@SoloCeesay) August 12, 2023
The app helps creators monetize their passions by offering a one-stop hub where they can share unique experiences with their community and turn skills into income.
Considering the solutions and objectives of this new social network, traders and investors are developing strong positive sentiments that Hedera’s network will benefit significantly from this integration.
The project is that its coin HBAR would be in demand, thus recording dramatic surges in the long run.
While HBAR looks bullish within the short and long term, investors seeking to diversify their crypto investment portfolio can consider the all-inclusive AI ecosystem, yPredict (YPRED) earlier.
World’s First All-Inclusive AI Platform, yPredict, Reaches $3.4 Million with 20,000+ Investors on Waiting List.
The yPredict platform aims have helped it hit $3.4 million and attracted more than 20,000 investors, with more set to join the project before its early presale ends.
The yPredict platform is an all-in-one AI platform that features Sentiment Analysis, AI Signals, Technical Analysis by AI, and over 25 Chart Pattern Recognition, all powered by artificial intelligence.
As an all-inclusive platform, developers, quants, traders, and analysts can access its AI-powered features to gain in-depth insight into industry-specific data, news, market sentiments, and much more.
It also comes with a cutting-edge predictive model that allows experts across various industries to initiate AI-driven predictions and monetize them on the platform. Other users can access these predictions by paying a monthly subscription fee.
Apart from AI, yPredict is a crypto-based platform on EtheEthereum’sckchain, allowing users to transact, access its features, and engage in various activities using cryptocurrencies.
Its native utility token is $YPRED, which users need to access all AI features on the platform.
$YPRED Presale is Gaining InveInvestor’sention
The token is in presale, selling for $0.1. In the next few days, it will reach $0.11 and list for $0.12 at the end of the presale.
Those interested in this revolutionary AI + crypto project can join the 20,000+ early investors by swapping their MATIC, ETH, BNB, or USDT for $YPRED. Alternatively, they can pay for the token using their bank cards.
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