Hedera Hashgraph (HBAR) is a public platform that allows developers to create decentralized applications (DApps). It is designed to remove all the barriers that old blockchain-based platforms used to face. Unlike other cryptocurrencies, HBAR is not built on conventional blockchain. However, it has introduced its own distributed ledger technology known as Hashgraph. The following HBAR technical analysis will predict the price trends for the next two days: Past Performance On June 9, 2021, HBAR opened at $0.22. On June 15, 2021, HBAR closed at $0.21. Thus, in the past week, the HBAR price has decreased by approximately 4.54%. In the last 24 hours, HBAR has traded between $0.20-$0.21. https://ift.tt/35nP2fS Day Ahead And Tomorrow Currently, HBAR is trading at $0.20. The price has decreased from the day’s opening price of $0.21. Thus, we can see some profit booking from the day’s high. The MACD and signal lines are negative. However, a bullish crossover by the signal line over the MACD line has occurred. Thus, the overall market momentum is turning bullish. Hence, the price may rise further. Currently, the RSI indicator is at 42.37%. It faced rejection at 38.28% and rose to this level. Thus, buying pressures are slowly mounting for HBAR. We have to wait and watch if buying pressures become strong enough to bring about a bearish trend reversal. On the daily chart, the OBV indicator is upward trending. Thus, buying volumes are gradually increasing compared to selling volumes. However, if the bears remain strong throughout. The high selling activity will exert downward pressure on the HBAR price. In short, when we look at all three oscillators, we can say that the price may continue to rise. However, we cannot rule out the possibility of a trend reversal. We have to wait and watch to see if an intermittent price rise is a corrective action or the beginning of a positive trend. HBAR Technical Analysis Currently, the price is below the second Fibonacci pivot point of $0.2254. If the bears remain strong till day end, then the price is likely to fall below the first, second, and third support levels of $0.19, $0.17, and $0.13, respectively. The price is trading below the 38.2% FIB retracement level of $0.22. It may soon fall below the FIB retracement level of $0.19. Thereafter, we have to wait and watch if the price retests and breaks out of these levels. In that case, the price upswing is likely to continue tomorrow as well. However, on the upside, if the resistance of level $0.22 is broken, it will highlight the next resistance at $0.24. That can be kept as the target for the long call.
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