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

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