Hedera's (HBAR) price surged 4% in the last 24 hours, reaching $0.2903, amid nearly 79% trading volume increase to $1.4 billion.
Current Price Dynamics of Hedera
As data shows, Hedera's price surged following a parabolic curve, peaking near $0.375, followed by a retracement forming a falling wedge pattern. HBAR price is currently hovering around $0.291, testing the upper wedge boundary.
Chart Analysis and Predictions
According to GeckoTerminal, Hedera price is on the verge of breaking a key level. The 50-day Simple Moving Average (SMA) is at $0.2918, confirming potential bullish momentum, while the 200-day SMA at $0.2157 serves as a significant support. The Relative Strength Index (RSI) remains neutral, indicating no strong dominance of buyers or sellers.
Other Cryptocurrency Events
Apart from Hedera's rise, the spotlight is on the Best Wallet presale, which has raised over $4.8 million. Best Wallet is a new crypto wallet with advanced features, offering early investment opportunities through its 'Upcoming Tokens' feature.
In the current context, Hedera shows signs of a potential reversal amid rising trading volumes. Investors are watching the developments closely, anticipating a possible price breakthrough.
