Hedera Hashgraph’s technical analysis will show that it is a Proof-of-Stake(PoS) hack-free blockchain network that charges lower transaction fees and is incredibly fast. HBAR is the customized token of this network and powers decentralized apps on this ecosystem. Low bandwidth consumption, instant finality, and high throughput are other striking features of this network. Past Performance On March 24, 2021, the opening price of HBAR was $0.305. As of March 31, 2021, the closing price of HBAR was 0.36. Thus, in the past week, the HBAR price has surged by approximately 15%. In the last 24 hours, HBAR has traded between $0.34-$0.37. https://ift.tt/3diYjJK Day-Ahead and Tomorrow Currently, HBAR is trading at $0.34. The price has declined from the opening price of $0.36. Thus, the market looks bearish. The A/D indicator has started tapering down. This implies that whale distributions are gradually increasing. Thus, we can expect a price pullback. The HBAR price is likely to drop further. The MACD and signal lines are negative. Thus, the overall market momentum is bearish. However, a bullish crossover by the MACD line over the signal line has occurred. Thus, we can expect some price corrections to occur. However, the price dip is expected to continue till a trend reversal occurs. Currently, the RSI indicator is at 31%. It is falling further into the ‘oversold’ region. Thus, selling pressures are very high. Hence, the price is likely to go down further. HBAR Technical Analysis As per technical analysis, the price has fallen below the first Fibonacci pivot support level of $0.345. If the bearish forces continue to remain strong, by day end we can expect the price to fall below the subsequent support levels of $0.338 and $0.327 respectively. The price has tested and fallen below the 23.6% FIB retracement level of $0.347. By day close, if the price falls below the 61.8% FIB extension level of $0.32, then the bear-run will continue tomorrow as well.
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