Hedera (HBAR) cryptocurrency has recently displayed positive price momentum, with the token surging over 15% in the past 24 hours despite overall bearish market conditions.
HBAR bulls appear unfazed by broader market sentiment, continuing to drive the upward trend while disregarding bearish signals. The HBAR network itself shows robust growth, currently facilitating over 113 million transactions at an average speed of 1,300+ TPS. More than 35,000 accounts have been created on the network, with 5,300 fully active.
Beyond network statistics, HBAR has announced a steady stream of expansions and partnerships over the past year. While 2020/2021 may have lacked substantive progress, today’s landscape looks markedly different. In a relatively short time, Hedera has emerged as a major player in the crypto space.
Many believe Hedera has solidified its position as a future top-ten cryptocurrency project. Although short-term price fluctuations draw attention, HBAR’s long-term adoption and development trajectory reveal significant potential. Patience will be key as this story unfolds over the coming months and years.
Technical Analysis
Since June, HBAR has traded within a channel between $0.045 and $0.063. Breaking above the upper boundary (~$0.063) could parabolic market sentiment. Last week’s 16% spike pushed HBAR past the $0.062 resistance level, which was provided by the bearish 0.382 Fibonacci retracement.
Looking ahead, the first resistance above the channel sits at $0.07, near the bearish 0.5 Fib retracement. Further upside resistance levels include $0.0726 (1.414 Fib extension), $0.0763 (bearish 0.618 Fib), and $0.08.
👉 Discover how HBAR’s unique consensus mechanism fuels its growth
Key Takeaways
- Network Strength: 113M+ transactions at 1,300+ TPS.
- Adoption: 35,000+ accounts, 5,300 active.
- Breakout Potential: $0.063 resistance breach may trigger parabolic momentum.
FAQs
Q: What’s driving HBAR’s recent price surge?
A: Network growth, strategic partnerships, and technical breakout momentum.
Q: Is HBAR a good long-term investment?
A: Its scalable technology and adoption trends position it favorably, though market volatility persists.
Q: What’s the next critical resistance level?
A: $0.07, aligned with the 0.5 Fib retracement.