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Highlights
- HBAR price has dropped to a key support level, pointing to a strong rebound.
- It has numerous catalysts, including HBAR ETF approval and its strong governance council.
- Hedera and Cardano are two strong Made in America coins that may rebound.
HBAR price has slipped from its highest level this year, aligning with most altcoins. It has dropped by over 40% from the YTD high and is still pointing downwards. While Cardano price has crawled back this week, it also remains in a technical bear market. This article provides an ADA vs HBAR comparison and asses the one that will emerge victorious.
Hedera Hashgraph
Crypto analysts are largely bullish on the HBAR price, citing its numerous catalysts. The most notable one is that its governance comprises top blue-chip companies from around the world. Notable names are firms like ServiceNow, Tata Communications, Dell Technologies, and IBM. These partnerships mean that these firms will likely embrace its technology when building decentralized solutions.
Further, Brian Brooks, a board member of Hedera Foundation, who served briefly as Binance’s CEO, was rumoured to be a contender for the SEC chair. While the SEC role went to Paul Atkins, there is a likelihood that he may get a role in the Trump administration.
Another potential catalyst for the HBAR price is the fact that it may have a spot Hedera ETF. In a note in December, Eric Balchunas, the head ETF analyst at Bloomberg, predicted tha the HBAR ETF will be one of the first spot fund to be approved this year.
There are signs that Hedera is highly connected as its president, Kamal Youssefi, was one of US representatives at the World Economic Forum in January. His recognition is a sign that the network is recognized at a global scale.
Cardano
Cardano price also has numerous catalysts ahead. Grayscale recently applied for a spot ADA ETF, which will likely be approved later this year. Such a fund will likely lead to more demand from Wall Street investors.
Cardano has more catalysts. For example, Charles Hoskinson has a VIP meeting on March 1, where a big announcement may be made. Traders anticipate that the VIP may be Elon Musk, who is considering moving US government data to the blockchain.
Crypto enthusiasts have been pushing Musk to embrace Cardano in the US government, citing its 100% uptime and low transaction costs.
Cardano has other potential catalysts, including the integration with BitcoinOS, and the upcoming Midnight scaling solution.
HBAR Price Forecast
The weekly chart shows that the HBAR price formed a slanted triple-bottom pattern whose neckline was at $0.1860. This pattern is one of the most bullish reversal patterns in the market.
Hedera has now retested the neckline at $0.1816. A break and retest is another popular sign of a bullish continuation. It has also formed a morning star candle that has a small body and upper and lower shadows.
Hedera price remains above the 50-week moving average. Therefore, the coin may bounce back, and possibly retest the extreme overshoot point of the Murrey Math Lines at $0.3418, up by 55% from the current level. The bullish HBAR price forecast will become invalid if it drops below the support at $0.1860.
Summary: Cardano vs HBAR
Cardano and Hedera are two popular layer-2 blockchains that may rebound strongly over time as they welcome more developers to the ecosystem. They both have a 100% uptime, are Made in the USA, and have ETF approval odds. Therefore, these tokens have a high chance of rebounding and generating value to investors.
Frequently Asked Questions (FAQs)
1. Which is a better buy, between Cardano and HBAR price?
2. What are the top HBAR catalysts?
3. Which are the top Cardano catalysts?
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