Cryptocurrencies are bogged down in a bear market after a good ride in early September. But, some projects manage to pull out of the game in this bloodbath. Hedera Hashgraph stood out with a daily performance of 24%. The crypto sets its ATH straight at $ 0.44 established on March 15. Could he reach it?
A look back at the recent performances of Hedera Hashgraph (HBAR)
Like many other cryptocurrencies, Hedera Hashgraph began its bullish phase from July 21, the date before its low at $ 0.1547. The crypto gained over 100% during this phase. In terms of trend, its recent performance is marked by a first bullish streak where HBAR had gained nearly 10 cents ($ 0.1547 – $ 0.26) on the stock market. Then, Hedera’s price was corrected causing him to lose 5 cents. The latest streak saw the crypto take 6 cents before making a 10 cent red candle.
For 36 hours, a bullish phase has just erased the 10 cents lost. In fact, HBAR has taken over and is earning 12 cents to drop to $ 0.36. It only needs 8 cents to touch its multi-year ATH. A possible technical objective given the current trend of the HBAR price curve.
What does the daily technical analysis tell us?
The graphic elements confirm the good form of Hedera. First, HBAR breaks its estimated 20-day moving average at $ 0.27. It also exceeds its 200-day moving average valued at $ 0.2467. Interestingly, even during its recent correction its value has not fallen below its long and short term moving averages.
The RSI is promising as it stands at 0.66 in the daily chart. In hourly data, it is even more interesting because it is at 73 and follows an ascending pace. The Fibonacci tells us resistance levels at $ 0.38 and $ 0.44. A return to $ 0.30 is also to be considered.
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