Hedera

<p><strong>Sweden’s Riksbank tested Algorand and Hedera Hashgraph for their retail CBDC. HBAR’s price analysis reveals the potential for an impressive 65% gain or a 36% drop, as the HBAR 50-day SMA just crossed below the 200-day SMA, forming a ‘Death Cross’.</strong></p><h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a11c500207d848dab563501adbd67a1e.png" /></p><p>Hedera’s 50-day SMA crossed below the 200-day SMA, forming a death cross, indicating investor bearishness. Despite strong fundamentals, HBAR’s price fell 5.9% in the last 24 hours to around $0.0708 during European hours, following Bitcoin’s drop below $60,000, which caused market fear.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ca75b3dadd414e5a86a0426bb5fed362.png" /></p><h3 id="hbar-price-analysis-bearish-trends-and-potential-rebound">HBAR Price Analysis: Bearish Trends and Potential Rebound</h3><p>HBAR’s price has been dropping for most of the last two months. After hitting a yearly high of $0.181 in April, the price began correcting, dropping as low as $0.068 on June 5. The price action since November 2023 has formed a significant head-and-shoulders pattern, which is generally bearish for financial assets. However, it’s important to note that technical analysis is based on statistics and probabilities.</p><p>Currently, Hedera Hashgraph’s price is trending below the 50-day and 200-day simple moving averages (SMA). The recent ‘Death Cross,’ where the 50-day SMA crosses below the 200-day SMA, indicates that market sentiment is bearish for HBAR.</p><p>HBAR’s price is now at a critical decision point. If the price closes below $0.068, it could drop by 36% to $0.045, <a href="https://cryptosheadlines.com/bitcoin-poised-for-13-drop-to-24750-in-key-pattern-completion/" rel="noopener noreferrer nofollow">completing the head-and-shoulders pattern</a>. Conversely, if bullish sentiment prevails, <a href="https://cryptosheadlines.com/todays-crypto-prices-sei-and-bone-rise-hbar-rally-slows-down/" rel="noopener noreferrer nofollow">HBAR’s price could rally</a> by 65% to $0.121. This level aligns with the right shoulder of the head-and-shoulders pattern, potentially leading to a consolidation zone between $0.135 and $0.068.</p><h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/a11c500207d848dab563501adbd67a1e.png" /></p><p>The relative strength index (RSI 14) for HBAR has entered the oversold region, suggesting a short period of high selling momentum before a potential reversal. The RSI supports the head-and-shoulders pattern, indicating that HBAR may experience a drawdown before a rally.</p><p><a href="https://cryptosheadlines.com/roaring-kitty-buys-9m-chwy-shares-amid-gamestop-lawsuit/" rel="noopener noreferrer nofollow">Also Read:   Roaring Kitty Buys 9M CHWY Shares Amid GameStop Lawsuit</a></p><p>On the way up, HBAR may <a href="https://cryptosheadlines.com/xrp-surges-shib-faces-resistance-eth-shows-strength/" rel="noopener noreferrer nofollow">face resistance</a> at $0.091, $0.088, and $0.097. Conversely, the asset may find support at $0.063, $0.051, and $0.045.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ca75b3dadd414e5a86a0426bb5fed362.png" /></p><h3 id="hbar-strong-fundamentals-amid-price-fluctuations">HBAR: Strong Fundamentals Amid Price Fluctuations</h3><p>Despite the lagging price, HBAR boasts one of the strongest fundamentals in the crypto space. The Hashgraph technology underpinning Hedera is robust, and its adoption is accelerating.</p><p>Recently, Sweden’s Riksbank tested Algorand and Hedera Hashgraph for their retail CBDC. Both Hedera and Algorand were mentioned in their report on the “Potential Climate Impact of Retail CBDC Models.” Few <a href="https://cryptosheadlines.com/eu-study-recommends-default-security-status-for-crypto-assets-and-legal-recognition-for-defi/" rel="noopener noreferrer nofollow">crypto assets in the blockchain space receive such recognition</a>, highlighting HBAR’s potential to be a significant player in this bull run.</p><p>HBAR’s price analysis reveals a critical juncture, with the potential for an impressive 65% gain or a 36% drop. Despite Hedera’s innovative Hashgraph technology, HBAR’s price action remains influenced by Bitcoin’s movements. Nevertheless, HBAR’s past performance demonstrates its ability to deliver substantial returns in the growing crypto market.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/e6c0a6563541459583c90968a375aa7f.png" /></p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

HBAR Price Analysis: Big Gain or Big Drop? Time to Decide for Hedera

Table of Contents

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on Jul 4, 2024

Mt. Gox Bitcoin Repayments Less Daunting Than Feared, Says CoinShares

XRP Poised for Potential Rebound as Ripple Ecosystem Grows

Qubetics Whitelist Offers Stability Amid Price Drops for AAVE and Immutable X

How to Find the Best Airdrops 2024

Best Crypto Presales For July 2024

Privacy Powered Monero Vs High Speed Solana and WW3 Shiba’s Buzzing Entry

Join our free newsletter for daily crypto updates!