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- Hedera to launch Mintbar soon.
- The NFT minting platform to provide value addition.
- Hedera’s treasury reports released today.
The announcement made by Hedera to launch Mintbar brings back the spark in the eyes of the users. It’s an NFT minting platform that can tempt users to its NFT market and HBAR. This expansion can prove beneficial to HBAR in accelerating its retrieval from the recent debacle. It also released its updated treasury report, which details the estimated distributions for the next 12 months and commitments. These kinds of disclosures always positively impact the token price as it boosts the trust of both the holder and the potential investor.
The stat show
The prices for the native token, HBAR, are forming a falling parallel channel, and the current prices move close to the half line, suggesting a surge. EMAs float near the prices and may be achieved in the near term, respecting the uptrend. The volume shows pressure due to the turbulent conditions after the meltdown. This could improve in the future with price improvements and upsurge. The surge can aim for price levels near $0.06, and if the rise is powerful enough, it may even aim for $1.
The deeper analysis indicates that an uptrend may arrive as the CMF indicator slopes up and manages to hold spots above in the upper zone. The MACD shows a few sellers trying to book profits, but this can change with the platform launch. The RSI indicator also points up and tries to reach for the higher ranges.
Closer view
A closer look shows prices escalating steadily. The CMF also shifts to the higher ranges, imaging an uptrend. The MACD lines slide up and record buyers showing interest in the project and its potential. The RSI stays above the half line but is encouraging in the bigger picture.
Conclusion
The proposed project by Hedera shows the potential to make prices surge and improve conditions ruined by the catastrophe that the whole of crypto witnessed. HBAR displays a positive picture, and chances for HBAR reaching $1.
Technical levels
Support levels: $0.03 and $0.02
Resistance levels: $0.06 and $0.08
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
