Hedera (HBAR) has attracted attention in the crypto market, showing over a 12% increase in the past 24 hours after its listing on Robinhood.
HBAR Price Analysis
On the daily chart, HBAR has broken above its previous resistance at $0.26, which aligns with the 23.6% Fibonacci retracement level. This occurred after forming a 'higher low' at $0.233 on July 24. Traders should watch for the immediate support zone between $0.2480 and $0.2520, with a more critical stop-loss level at $0.2390.
Current Indicators
The 14-day RSI stands at 66.34, closely approaching overbought territory but still suggesting room for further upside. Meanwhile, the MACD remains slightly bearish with a negative histogram (-0.00022), although the price has consistently held above its 7-day simple moving average at $0.2611.
HBAR FAQs
1. Why is the HBAR price up today? The price surged after HBAR was listed on Robinhood, increasing accessibility and triggering a 58% rise in trading volume.
2. What is the next price target for HBAR? The immediate resistance is at $0.29930, followed by $0.3274 and a long-term target near $0.3735.
3. Is the trend bullish for HBAR now? Yes, the trend is bullish. RSI is strong, the price has formed a higher low, and it’s trading above short-term SMAs.
Overall, HBAR is in a growth phase, strengthened by substantial trading volume increases and positive indicators.
