HBAR coin is an acronym for the Hedera Hashgraph. A cryptocoin that is built on its own blockchain using Hashgraph consensus. This coin has proved to be very undervalued in terms of its practical application. Considered as the 3rd generation of blockchain, Hedera Hashgraph (HBAR) offers huge updates as compared to the previous generations i.e. Bitcoin and Ethereum. With benefits regarding a transaction, fee, energy use, and confirmation Hedera leads all the major blockchain networks.
Hedera Hashgraph (HBAR) coin over BTC and ETH
Currently being used and backed by some of the biggest organizations, Hedera is far superior as compared to older used blockchain networks. With ETH major gas fee problems and Bitcoins requirements of the huge amount of energy for the confirmation. HBAR coin solves these problems with ease.
HBAR Coin Technical Analysis
Since generally it can be seen that all of the coins follow BTC, we can see that when it dropped HBAR also showed a drop in its price and came down from its ATH. After the pump from 29K in BTC, HBAR coin also showed an upward movement. As compared to other coins that had bled really hard like TRIAS and TEL, HBAR showed strong support at different zones. At the time BTC was at 64k, HBAR was at around 41c. This zone has strong resistance to HBAR and it has tested it a total of 6 times in its history. Currently ranging around 21c HBAR coin struggling to break above 23c. Overall HBAR has shown a bearish trend on a daily timeframe but held at around 13c at the current bottom and showed a trend reversal.
HBAR Support& Resistance
HBAR coin broke its trend line on 4 Hour Time Frame when it broke down from 21.74c. The current major resistance is at around 21.7c and the nearest support is at 20.8c. Break it and chances are we go down to 20.4c. If it breaks 21.7c we can hope to see it test 23c. RSI is nearly oversold that has shown a trend reversal.
Underperformance
As compared to other coins HBAR coin hasn’t shown any strength in its rally as well. People have showed a sigh on social media platforms as why a coin that is so promising hasn’t shown any strength with the recent movement with BTC. On the other hand, the second group of people have defended the coin with saying that is to be HODL. Short-term price action shouldn’t be bothering you.
Overall the market has shown volatility for some time. A lot of people have been sitting on the sidelines waiting for a clear direction as to what the market is going to do. People who FOMO’edat the end of this green wave are currently not happy and probably wishing that they can see the coin at sub 20c.
