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Hedera Hashgraph had a bearish price break out from a consolidating trend on November 8. The bears were able to sustain the bearish market as they brought the price to $0.04. This $0.04 becomes the support price and the basis for the bullish recovery in the market. Although the bulls are trying to regain their grip over the market, the bears are still having the upper hand. The bears now have a new lower resistance which is at $0.05. The bull market has faced rejection at this $0.05 price level on two occasions. They face rejection at the price level on the 10th and the 15th of November.
Hedera Hashgraph Market Price Statistic:
- HBAR/USD price now: $0.05023
- HBAR/USD market cap: $1,147,563,813
- HBAR/USD circulating supply:22.97B
- HBAR/USD total supply: 50,000,000,000
- HBAR/USD coin market ranking: #36
Key Levels
- Resistance: $0.055, $0.060, $0.065
- Support: $0.045, $0.040, $0.035
Hedera Hashgraph Market Price Analysis: The Indicators’ Point of View
The price of HBAR is back at the $0.05 resistance level. And the bullish price seems pegged around this level. This is because of the immense struggle between demand and supply at the resistance price level. In the MACD, the histograms appear in faded red and their heights continue to decrease. This is a sign of the bullish activities in the market. However, to confirm the bullish recovery, the MACD line needs to cross over the signal line and then cross out of the negative zone.
HBAR/USD 4-Hour Chart Outlook
The bulls dominate the first two sessions. And the price breaks the $0.05 resistance. The market was priced at $0.0508 in the second session. However, in the third session, bearish pressure pushes the price back to $0.05. These very tight struggles noticed around this price level between the second and third sessions testify to the market deadlock. With this latest lower resistance that has become a ‘hard nut to crack’ for the bulls, the market may consolidate or the price may fall more.
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