- Hedera’s CLO stated, grants issued to more than 150 projects.
- Hedera is leading as an industry hashgraph solution.
- The trading volume rose by 130.5%.
As per the report by LG Art Labs, Hedera Foundation’s Chief Legal Officer (CLO) has stated that the organization has already issued grants to more than 150 projects that are currently building on Hedera layer 1 hashgraphs. It also emphasized the fact regardless of external conditions, companies will continue to adopt and leverage this nascent technology and industry. HBAR prices were observed to be volatile movements as projects continue to build on top of the hashgraph. Hedera continues to show promise as an industry-leading hashgraph solution, and HBAR follows the master and prepares a positive outlook.
The pictorial
HBAR prices are moving downwards, forming a falling parallel channel with constantly making lower highs. The price action is taking place akin to the half line, and all significant EMAs float above it. A strong upswing is predicted if current prices can breach the 20 and 50 EMAs, respectively. Trading volume has been comparatively less volatile for the last few months. The rise is predicted to reach a level near $0.0680.
The price analysis suggests that, before rising, prices may take a step back and bounce back soon. The CMF indicator lies close to the zero mark and reflects stable situations. The MACD shows sellers and buyers taking turns and keeping the market in equilibrium. The RSI oscillates in the lower half and shows seller-influenced movements.
4 hour POV
The recent movements suggest prices trading at a discount and investors booking profits. The CMF indicator stoops below the baseline but holds near it. The MACD shows sharp selling happening, and soon buyers may enter. The RSI supports the MACD indicator and slips to the oversold zone, reflecting overpowering sellers. The cumulative analysis image price rally may happen soon.
Conclusion
The market study looks promising and suggests investors to invest as the prices may rally and yield huge profits. The support zone of $0.030 can be relied upon to invest.
Technical levels
Support levels: $0.039 and $0.032
Resistance levels: $0.068 and $0.080
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/28/late-christmas-sale-on-hbar-now-is-the-time-to-buy-some/