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- 1 Hedera (HBAR) price showed a flag pattern breakout and looks bullish.
- 2 Buyers have picked strength and retested the trendline mark of $0.1000.
HBAR crypto trades in a bullish bias and buyers are ruling the trend decisively. Recently, a much awaited breakout was witnessed and a surge over 25% in the last two weeks was noted.
The overall trend is bullish and the token is poised for an up move and may deliver the bullish delights in the next sessions.
At press time, the Hedera Hashgraph token (HBAR) price traded at $0.1101 with an intraday gain of 0.22%, reflecting a bullish stance. It has a monthly return ratio of 5.13% and 89.71% yearly, signifying a long term bullish trend.
The pair of HBAR/BTC is at 0.00000173 BTC, and the market cap is $3.94 Billion. Analysts are bullish and suggest that the HBAR crypto may replicate a sharp bull run and will reach the upside of $0.1500 shortly.
What’s Next For HBAR Crypto After Flag Breakout?
On the daily charts, the Hedera Hashgraph token has retested the trendline region of $0.0900 and rebounded from the 200 day EMA mark this week. Meanwhile, the buyers have started accumulating and eyeing to defeat the seller army.
Source: Santiment
The intraday trading volume dropped over 45% to $149.44 Million, reflecting low volume buying, which is a prime concern. A break and close above the $0.1200 would confirm the up move and will be a fresh buy opportunity later.
HBAR Shows Sharp Price Volatility, What Does It Mean?
Per the Santiment data, the price volatility curve reflected roller coaster moves last week and is displaying massive fluctuations. The volatility curve suddenly spiked over 38% and then dropped over 43%, noting around 0.026, implying sharp trading activity.
Source: Santiment
The weighted sentiment data remained stable and stayed close to the midline, noted at 0.08 mark, implying neutral outlook among the investors.
What Does Development Activity and Open Interest Data Suggest?
The development activity data showed a consistent up move and has delivered a down move over 4.37% to 434. This data highlights the short term bullish trend and investors are showcasing their interest.
Source: Santiment
However, the derivative data signifies short covering data in the past weeks, open interest dropped over 7.89% to $70.18 Million. However, this week, followed by a price up move, the buyers are making fresh long additions and putting efforts to initiate an up move.
HBAR market cap soared by 0.87% to $5.99 Billion, whereas the total supply was noted at 73.68 million. However, the coin ranked at 24 per the market cap listing.
Conclusion
The HBAR price crossed the key moving averages and is directing buying momentum in the last sessions. Similarly, the trend is bullish and technical indicators are suggesting further upside toward $0.1400.
Technical Levels
Support Levels: $0.1000 and $0.0960
Resistance Levels: $0.1300 and $0.1500
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
