Hedera crypto is a public network for a decentralized economy that enables people and businesses to build powerful DApps. Hedera Hashgraph has a unique consensus system called Hashgraph consensus to secure its network. This system has a rotating governing council of up to 39 diverse organizations from up to 11 different sectors.
Hedera raised funds through an ICO in August 2018 and opened its mainnet to the public in September, 2019.
During the ICO, investors could buy the platform’s own utility token (HBAR) at the best price possible.
Hedera (HBAR) is the cryptocurrency of Hedera Hashgraph, a platform that offers an alternative to blockchain technology and strives to be faster, efficient and secure.
They are responsible for guiding the Hedera codebase, making platform decisions and running the initial nodes on the Hedera public network.
Hedera crypto uses a proof-of-stake (PoS) mechanism that lets HBAR users stake their resources to support the network.
Currently, all Hedera nodes are controlled by either Hedera or the governing council members, but they plan to change to a permissionless system in the future.
The Chart Outlook on Day Time Frame
The Hedera crypto (HBAR) chart is showing bullish behavior. It performed well last week, last month, and over the last three months, by 52.12%, 23.24%, and 22.59% respectively, confirming a strong uptrend.
The Hedera crypto is highlighting a surge of 0.63% in the last 24 hours, and currently trading at $0.07466.
However, if the demand for the HBAR Token remains high, the asset price could bounce back from the current level. The next goal for the HBAR price is to reach $0.09000.
However, if the HBAR crypto price fails to stay above the $0.06000 level, it could decline further.
The Hedera crypto asset (HBAR) is displaying bullishness and rising tendency as it continues to move above major EMAs.
The Hedera crypto asset (HBAR) is displaying bullish characteristics and the RSI is rising smoothly, implying that the asset is gaining momentum and can achieve new peaks.
Summary
The demand for the HBAR Token remains high, the asset price could bounce back from the current level. However, if the HBAR crypto price fails to stay above the $0.06000 level, it could decline further as well.
Hedera is rising steadily as it sustains above major trend EMAs. The RSI is rising smoothly, implying that the asset is gaining momentum and could mark new peaks.
Technical Levels
Support Levels: $0.06000
Resistance Levels: $0.09000
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
Source: https://www.thecoinrepublic.com/2023/12/09/can-hedera-crypto-price-hbar-gain-further-after-latest-move/