HBAR Price Analysis: Hedera Hashgraph ($HBAR) Prints New All Time High, Can HBAR Break $1?

By Domenic
Published September 15, 2021 Updated September 15, 2021
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HBAR Price Analysis: Hedera Hashgraph ($HBAR) Prints New All Time High, Can HBAR Break $1?

By Domenic
Published September 15, 2021 Updated September 15, 2021
  • HBAR price is up nearly 95% over the last week
  • HBAR Price has formed an ascending channel
  • 25 MA has continued to act as support

Can HBAR Take Over $1?

Hedera Hashgraph (HBAR) has been outperforming the overall crypto market over the last week as prices have risen nearly 100% from $0.24 to $0.49. HBAR refers to itself as the “trust layer of the internet”. Hedera is a public network that allows individuals and businesses to create powerful decentralized applications (Dapps).

HBAR has been growing in popularity & market cap rankings as its now the 39th largest cryptocurrency. HBAR was designed to be a fairer, more efficient system that eliminates the limitations that older blockchains face.

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Ever since the large market fall that occurred on September 7th, HBAR has been on an immensely strong uptrend. This uptrend has pushed HBAR price to a new all time high of $0.49. Throughout this period, HBAR price has formed an ascending channel formation (shown in light blue). The top trend of this channel has acted as a major resistance as each time price has reached it, it has gotten rejected back down to the median line of the channel (shown in red).

At the time of writing, HBAR price is trading within a major resistance zone of $0.45-$0.486. If bulls manage to break & hold this zone, we should expect price to reach the target given.

Hedera Hashgraph Price Analysis: HBAR/USDT 4 Hour Chart

TradingView Chart

Throughout this run up over the last week, HBAR price has only touched the bottom trend of its ascending channel once. This shows that bulls are immensely in control as price continues to hug the top trend of its channel. At the time of writing, Hedera Hashgraph is trading above a minor support of $0.45.

If bulls lose power & HBAR price gets pulled below this mark, expect prices to drop to the major support of $0.423. If this level fails to hold, expect price to drop further to the major support of $0.389. This would bring HBAR price to the bottom trend of its channel. Along with this trend lies the 25MA. This MA has held for nearly a week now & a break below will likely cause a bearish trend change.

  • While looking at the Stochastic RSI, we can see strength is now heading towards the overbought region. If strength continues higher & enters within this zone, HBAR price may be in for a push to a new all time high.
  • The MACD has been stuck within a linear uptrend for the past few days. This continues bullish until the blue MA crossed below the orange MA.

HBAR Intraday Analysis

  • Spot rate: $0.467
  • Trend: Bullish
  • Volatility: Medium
  • Support: $0.4527
  • Resistance: $0.486
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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Domenic
132 Articles
Domenic Fiore has a love for the financial markets. He decided to skip the college route to pursue entrepreneurship. He saw the vision to become an entrepreneur and wanted to achieve success from a young age. Domenic owned & operated a car detailing business since the age of 16, along with being a part of two CBD businesses through 2018 & 2019. He started his investment and trading career early trading in 2017 when he bought a newly released cryptocurrency alt-coin and saw 10x return in a few months. He then realized there was much potential and dove head first into learning everything he could. He became very passionate about technical analysis and knew it was his route to financial freedom. Over the last 4 years, Domenic has shared his analysis with many groups and received amazing feedback. Shortly after he wanted to help assist in the pursuit of spreading and helping others achieve success in the trading industry.

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