- The Hedera crypto price has increased by 9.3% in the last seven days.
- The Hedera crypto price has increased by 654% from its all-time low price.
HBAR is the cryptocurrency of the Hedera network, which uses hashgraph consensus for fast, secure, and low-cost transactions. HBAR is used for fees, staking, and governance. The Hedera Hashgraph was created by Dr. Leemon Baird and Mance Harmon, who are now part of Swirlds Labs.
The market cap of the Hedera crypto has increased by 1.31% in the last 24 hours to $2.503 Billion, which makes it 37th largest crypto in the world. The trading volume of the crypto has further risen by 26.6%.
The volume/market cap ratio of the crypto is 1.50% and the traded volume value of the crypto is $37.558 Million while the circulating supply of the crypto is 33.662 Billion HBAR. Additionally, the total supply of the crypto is 50.0 Billion HBAR and the max supply is also the same.
The fully diluted market cap of the Hedera crypto is $3.718 Billion and it hit an all-time high of $0.5701. The price of the crypto has decreased by 86.9% from this all-time high.
Hedera Crypto Derivatives Analysis
The open interest of the Hedera crypto has increased by 11.79% in the last 24 hours, resulting in a value of $23.79 Million. The derivatives trading volume of the crypto further has increased by 63.22% and the long/short ratio of the crypto is 1.0483.
The long liquidation recorded as per Coinglass is $29.00K and the short liquidation for the crypto is $3.17K. This data shows the dominance of sellers in the short-term as there is higher long liquidation.
HBAR Crypto Technical Analysis
The HBAR crypto price has broken above the crucial swing high and is currently taking support from the same level. Additionally, the most recent price action shows bullishness on the charts as the price of the crypto is pushing towards the higher level.
HBAR/USD Chart by TradingView
The 20-day and the 50-day EMAs are forming a death cross while the 50-day and the 200-day EMAs are forming a golden cross. The price of the crypto is above the 200-day EMA but has slipped below the 50-day EMA.
The MACD and the signal lines have overlapped each other and have declined below the zero level. This indicates weakness in the trading price of the crypto.
The RSI of the crypto has declined below the 50-level from the overbought zones. Despite this, the RSI is trying to rebound as it has broken above the 14-day SMA.
Summary
HBAR is a rising star in the crypto space, with impressive performance and potential. It has broken a key resistance level and is currently taking support at the breakout level. It has bullish indicators and a positive sentiment. If the price of the crypto breaks above the last swing high, we might witness a further rally in the price.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.