The Cryptocurrency market is trading in the green with most of the altcoins trying to recover the losses. HBAR on the other hand is a utility coin whose price actions are not driven by a community. It’s only a matter of time before it stops and makes a substantial move in one direction or the other. Furthermore, LCX’s cooperation with HBAR is significant and beneficial to both communities.
One transaction from an external restricted account to a regular account recently added 730 million HBAR to the circulating supply.
Hedera Hashgraph has also received a lot of bad press due to security flaws and the fact that it is a relatively centralized system. Eventually, Decentralization will grow organically as the network expands.
During Q1, the HBAR/USD surged nearly 1,300 percent in value, outperforming many other cryptocurrencies. In the last seven days, there have also been volume increases.
Despite the fact that weekly values are falling, the currency has gained 4.75 percent in the previous 24 hours and is now trading at $0.18. The $0.16 level must be converted into an important support level for HBAR. If the $0.16 levels are crossed, the following support levels are $0.148 and $0.1161, respectively.
On the other hand, if the bullish market movement continues, the primary pivot level at $0.20 will open the gates to $0.25 and $0.28 in the broader picture. The MACD and SMA are both flashing buy signs at the moment, while the Relative Strength Index is neutral.
Although it is a small currency, it still has a lot of potentials, therefore severe price changes are expected in the next few weeks.