Hedera Hashgraph is a blockchain-based enterprise-grade network that facilitates the creation of customized digital assets. This decentralized ecosystem is powered by the network’s in-house token HBAR. It is a fast and safe platform for building Next-gen decentralized apps. The HBAR technical analysis is as follows: Past Performance On Jul 21, 2021, HBAR opened at $0.158. On Jul 27, 2021, HBAR closed at $0.197. Thus, in the past week, the HBAR price has increased by roughly 25%. In the last 24 hours, HBAR has traded between $0.18-$0.21 https://ift.tt/3x6CN2F Day-Ahead and Tomorrow Currently, HBAR is trading at $0.204. The price has increased from the day’s opening price of $0.197. Thus, the market seems bullish. The MACD and signal lines are positive. However, a bearish crossover by the MACD line over the signal line has occurred. Thus, we can expect an intermittent price pullback amidst an overall bullish trend. Currently, the RSI indicator is at 58%. It faced rejection at 72% and fell to the current level. Hence, selling pressures are mounting. High selling activity will exert downward pressure on the HBAR price. However, the OBV indicator is upward sloping. Thus, buying volumes are higher than selling volumes. Hence, the price may rise further. In short, the OBV indicator has given positive signals, while the MACD and RSI indicators have pointed towards a price pullback. Thus, we have to wait and watch if the bullish momentum continues or a trend reversal occurs. HBAR Technical Analysis Currently, the price is above the first Fibonacci pivot resistance level of $0.204. The price may soon rise above the second Fibonacci pivot resistance level of $0.21. After that, we have to wait and watch if the price rises further or starts falling. The price has tested and broken out of the 23.6% FIB retracement level of $0.20. It may further rise above the 23.6% FIB extension level of $0.212 as well. If by day close, the price retests and falls below these levels, the price downtrend is strong enough to sustain till tomorrow.
The post HBAR Technical Analysis: Price May Soon Rise Above the Second Fibonacci Pivot Resistance Level of $0.21 appeared first on Cryptoknowmics-Crypto News and Media Platform.
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