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The Hedera price soared 38% in the last 24 hours to trade at $0.142 as of 02:27 a.m. EST on trading volume that skyrocketed 112% to $3.36 billion.
This comes as Donald Trump nominated Brian Brooks, a former Binance CEO and board member of the Hedera Foundation, to be the next US Securities and Exchange Commission (SEC) chair.
Brooks has been a prominent figure in the crypto industry, and has a strong background in financial regulations.
Hedera Price Could Continue Soaring
The Hedera price has experienced a parabolic rise, breaking out of a previously sideways phase within the $0.056 level, according to data from GeckoTerminal.
HBAR now trades above both the 50 and 200 Simple Moving Averages (SMAs) on the 4-hour chart, which confirms the sustained bullish trend.
The Relative Strength Index (RSI) above 70, currently at 73, indicates the asset is in the overbought zone. This suggests the bullish momentum might slow down or lead to a temporary correction as traders take profit.
Additionally, the MACD line (blue) is above the signal line (orange) and both are strongly positive, indicating robust upward momentum.
If this momentum continues, the Hedera price could soar even higher, as the bulls target $0.50.
However, with the overextended RSI, the price of Hedera could drop, with the $0.078 level acting as the next possible support, within the 50 SMA.
As the Hedera price aims for a more sustained bullish rally, some investors are turning to meme coins like the newly launched Flockerz (FLOCK) for more explosive upside potential.
According to 99Bitcoins, a popular crypto channel on YouTube with over 706K subscribers, FLOCK has the potential to soar 100X after its launch.
Flockerz Races Toward $3 Million In Blockbuster Presale
Flockerz (FLOCK) is a meme coin project featuring an innovative Vote-to-Earn (V2E) platform that empowers its community to influence key decisions while earning rewards. Its decentralized governance framework, Flocktopia, gives token holders control over the project’s future.
The V2E platform from Flockerz is transforming decentralization as we know it. Put simply, all holders need to do is vote on key decisions to earn rewards paid in FLOCK tokens.
In the turbulent skies of crypto, it’s all about flying together. Strength in numbers, success in unity—fly with the flock! pic.twitter.com/vPwC75koVx
— Flockerz (@FlockerzToken) October 15, 2024
The project has raised a total of $2.3 million in funds through its ICO. Another key reason investors are flocking to the presale of its native token, FLOCK, is its mouth-watering staking rewards, currently perched at a dazzling 885%.
Investors interested in joining the presale can visit the official Flockerz website to buy FLOCK tokens for $0.0060289 per token using BNB, ETH, or USDT. You can also make a purchase using your bank card.
Buy before a price hike in less than two days to secure the best deal.
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