- HBAR token price action is traveling below the red Moku Cloud on an intraday session
- The 24-hour volume in HBAR is $4.70 Billion
- HBAR/BTC pair is trading negative by 0.58% at 0.00000626 BTC
The daily technical chart of HBAR token projects a bearish trend. According to pivot points, HBAR’s significant support level is $0.16. Whereas if it goes up, the fundamental resistance to watch is $0.26. Besides, the chart also features a bearish engulfing candlestick pattern displaying that Bears have control over the price movement.
The Ichimoku Cloud, consisting of Lead 1 & Lead 2 with a displacement value of 1. It acts as a pivot level and a leading indicator in the asset price change. Investors may witness the price moves below the red Moku Cloud, so until the price resides below the red Moku Cloud, it will assure a bearish trend in HBAR.
The RSI indicator gave a (Bearish) signal with 46, projecting a sell signal in the coin. Investors may observe a declining slope from 50 to 46. It may plunge in future trading sessions.
The volume of (100.45M) showcases an average selling below the Volume MA (251.25M) of 20-days. Traders are directing average selling pressure in the order book to dump its price level near the support zones. Investors may also observe declining volume in the chart to create big moves ahead.
What Is Hedera Hashgraph (HBAR)?
Charged as the “trust layer of the web,” Hedera Hashgraph is a public organization that permits people and organizations to make incredible decentralized applications (DApps).
It is intended to be a more pleasant, more proficient framework that takes out a portion of the limits that older blockchain-based platforms face — like sluggish performance and instability.
The HBAR token includes a double part inside the Hedera public organization.
Most importantly, HBAR is the fuel that powers Hedera services, like smart contracts, file storage, and ordinary transactions. Second, it’s utilized to help secure the network, since HBAR users can stake their tokens to help with keeping up the uprightness of the platform.
Who Are the Founders of Hedera Hashgraph?
Hedera Hashgraph has two originators: Dr. Leemon Baird and Mance Harmon.
Dr. Leemon Baird is credited as the investor of the hashgraph dispersed consensus algorithm and presently fills in as Hedera’s chief scientist.
Then again, Mance Harmon is Hedera’s CEO and accomplished technology chief and seasoned entrepreneur. Harmon has around twenty years of involvement holding chief jobs at conspicuous firms — a significant number of which are in the IT security industry. Like Dr. Leemon Baird, Mance Harmon likewise stands firm on a second footing at Swirlds Inc., as its co-founder and CEO.
What Makes Hedera Hashgraph Unique?
In contrast to most other crypto platforms, Hedera Hashgraph isn’t based on top of a traditional blockchain. All things being equal, it presents a novel sort of distributed ledger technology known as a Hashgraph.
This innovation permits it to develop numerous blockchain-based options in a few key regions, including speed, cost, and adaptability. Hedera transactions have a normal exchange fee of just $0.0001 and commonly arrive in less than five seconds. In general, Hedera Hashgraph claims it can deal with over 10,000 transactions per second (TPS) — contrasted with around 5-20 for most mainstream proof-of-work (PoW)- based blockchains.
Resistance: $0.26
Support: $0.16