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Hedera Hashgraph is a smart contract platform that uses fast transaction algorithms.
HBAR recovers $0.074 level after gaining 10% for the week.
HBAR could be integrated, but $0.074 remains reference support
Hedera Hashgraph HBAR/USD surged more than 10% over the past 7 days. The gain pushed the token to a higher level and regained a large resistance. When trading HBAR, it is important to be aware of critical levels where the price can face indecision.
Hedera Hashgraph is a blockchain that promises to provide secure and fast transactions. Blockchain aims to achieve its goals through distributed consensus algorithms. Hedera also aims to enable anyone to deploy applications on the platform for true decentralization.
Hedera Hashgraph may not be the strongest cryptocurrency of the year. Since bottoming out at $0.06 in mid-July, it has continued its very slow rally. That’s despite most other cryptocurrencies showing strong recoveries. Nonetheless, the recent recovery could be a hint of what might happen to tokens.
Source TradingView
From the daily chart perspective, the 21-day and 50-day moving averages have added support for HBAR. The bullish momentum has increased and the 21-day moving average has risen above his 50-day moving average. The MACD indicator also shows that it is gaining momentum. The price is well supported above $0.074, suggesting that HBAR has set new reference support. The token is moving along an uptrend.
$0.074 should be a reference level if you are looking to buy HBAR. Nevertheless, the token may continue to consolidate due to weak momentum. Therefore, HBAR is not the best token for short-term buyers. Dip and long-term buying are recommended.
If HBAR holds $0.074, the next attention levels are $0.10 and $0.15. The cryptocurrency may also face resistance at $0.09.
