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The Hedera price surged 35% in the last 24 hours to trade at $0.1160 as of 3.50 a.m. EST on trading volume that skyrocketed 55% to $1.32 billion.
The HBAR price pump made the crypto the biggest gainer among the largest cryptos by market cap.
The project has seen a steady but constant price increase over the past seven days, going from $0.05487 to $0.13 mere hours ago.
The increase was interrupted about six hours ago, when the Hedera price saw a sudden increase that allowed it to skyrocket to $0.13. However, a resistance at $0.12 eventually rejected the token, leading it to its current value.
The project recently saw several important developments, such as Greyscale AI leveraging Prove AI on Hedera to achieve reliable data governance, as announced by Hedera’s president, Charles Adkins on November 15.
Not only that, but on the same day, HBAR was included in Coinbase’s new crypto index called Coinbase 50 Index (COIN50), joining 49 other top-ranking assets as one of the most stable and secure ways to invest in crypto.
In other words, the project gave traders a lot of reasons to buy, and its price skyrocketed as a result.
Hedera Price Prediction
Those who have been in the crypto industry for some time know that sharp price surges lead to equally sharp corrections, and Hedera’s HBAR is starting to see one right now.
The token’s Bollinger bands still remain quite wide, but its price, which was positioned closely against the upper band until a few hours ago, has now dropped to the middle area between the two lines.
On the plus side, the crypto market is mostly still trading in the green, with Bitcoin currently battling against the resistance at $92k. The oldest crypto’s return to the area above $90k over the past 10 hours encouraged many, but right now, the resistance seems to be strong enough to keep it below $92k.
For the altcoin market, including Hedera, this is still positive news, as bullish Bitcoin means that traders are unlikely to engage in a major sell-off.
On the other hand, when Bitcoin gets stuck, altcoins start taking their own individual actions, and so HBAR’s Relative Strength Index (RSI), which ventured into the overbought zone mere hours ago, has now dropped to the neutral area.
For now, the RSI is not giving signs of further drop to the oversold zone, which suggests that the traders are not pessimistic. It is likely that some have simply moved to take profit, but the selling stopped after the RSI dropped to the value of 54.47.
Given this, it is possible that the HBAR price will bounce back up in the hours to come as traders move in to buy the dip, encouraged by Bitcoin’s own surge. However, for those who do not wish to take that risk, there are alternative investments that they can turn to.
Promising Alternative To Hedera
Arguably one of the best alternatives to Hedera available right now is Crypto All-Stars (STARS) — a meme coin project that could forever change staking in the meme coin sector, and possibly in the entire crypto industry.
The project developed a new staking platform called MemeVault — a brand new type of multi-coin smart contract for staking that allows you to stake multiple cryptocurrencies in the same place for the first time.
Being a meme coin itself, the project focuses on the meme coin sector, allowing users to stake 11 of the most popular meme coins in the industry right now.
Using MemeVault, you can stake Dogecoin, Shiba Inu, Pepe, Floki, Coq Inu, Brett, Turbo, Toshi The Cat, Milady, Bonk, as well as its native STARS.
However, in order to stake any of them, you must first join the STARS presale and buy some of its tokens.
With the arrival of the recent crypto bull run, investors have doubled down on the project, pushing its ICO to over $4.3 million, while STARS tokens still sell for only $0.0015806 apiece.
Influential crypto YouTuber ClayBro, with over 131k subscribers, says STARS is a high-potential project that could 10x after launch.
In any case, the expert views it as one of the best meme coins to buy now, which certainly makes it worth considering while you can still get it at its low ICO price.
If you plan to join, buy before a price hike in less than 3 days.
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