Connect with us

Crypto Mining

HBAR Price Analysis: Notches Fresh All-Time Highs, India’s Leading Technical University Joins Hedera Governing Council

Published

on

Tomiwabold Olajide

  • Hedera Hashgraph (HBAR) has ticked higher since hitting lows at $0.221
  • HBAR price marked fresh all-time highs at $0.4790 today
  • Indian Institute of Technology Madras (IITM) has joined the Hedera Governing Council to expand its research footprint in new blockchain use cases

The cryptocurrency market is presently recovering after a bumpy start to the week. Hedera Hashgraph (HBAR) has ticked higher since hitting lows at $0.221 during the Sept. 7 ”flash crash”. This recent bull run has marked the fourth consecutive day in the green since Sept. 11, finally bringing HBAR’s price to fresh all-time highs at $0.4790 today. At the time of post, HBAR was exchanging hands at $0.4617, up 16.36% in the last 24 hours and 50.75% on a 7-day basis. As stated in a Sept. 14 announcement, India’s leading technical university, the Indian Institute of Technology Madras (IITM) has joined the Hedera Governing Council to expand its research footprint in new blockchain use cases, specifically in distributed ledger technology (DLT). IIT Madras’ appointment comes just weeks after the London School of Economics and Political Science (LSE), one of the UK’s top universities, announced its membership to the Hedera Governing Council, bolstering the council’s role within academia.

Key Levels
Resistance Levels: $0.6000, $0.5500, $0.5000
Support Levels: $0.4000, $0.3500, $0.3000

HBAR/USD Daily Chart: Bullish

HBAR/USD Daily Chart

Hedera Hashgraph (HBAR) managed to break above the previous top at $0.459 – dating back to March 2021. The new all-time high was created surprisingly easily with no real battle from the bears at the resistance area. Meanwhile, the moving averages are positively aligned after the bullish crossover of the MA 50 above the MA 200, suggesting a broadly bullish technical picture.

The upswing from Sept. 7 correction low at $0.221 shows no signs of running out of steam, although the RSI is fast approaching overbought territory. Maintaining the climb, the price may navigate in the uncharted territory, targetting the $50 and $60 levels. Alternatively, if the market proves overbought, sellers may encounter initial support from the $0.373 barrier ahead of the moving averages 50 and 200 at $0.26 and $0.253 respectively.

HBAR/USD 4-Hour Chart: Bullish

HBAR/USD 4-Hour Chart

HBAR ticked higher after embracing support at $0.24 near the 4-hour MA 200 on Sept. 8. The climb surmounted the barrier near $0.37 to mark a fresh record high at $0.478 on Sept. 14. Climbing higher in the uncharted territory, bulls may extend move past the $47 high to reach $50 and ultimately $60 levels. Alternatively, a retreat in HBAR price could find initial downside friction from the $0.40 until the $0.36 level.

Also, the incline in the slopes of the moving averages (MA) 50 and 200 (at $0.348 and $0.277 respectively) provide a formidable buffer zone for sellers to overcome to shift the bias to the downside. To summarize, HBAR is sustaining a broader bullish bias above the moving averages, however, a correction in the very near term to cool the temper of the RSI cannot be overruled.

Note: Kryptomoney.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

Image Credit: Shutterstock

The post HBAR Price Analysis: Notches Fresh All-Time Highs, India’s Leading Technical University Joins Hedera Governing Council appeared first on Latest Crypto News.


HBAR Price Analysis: Notches Fresh All-Time Highs, India’s Leading Technical University Joins Hedera Governing Council was first posted on September 14, 2021 at 8:52 am.
©2021 "Latest Crypto News". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at info@kryptomoney.com
Continue Reading

Latest

Companies

%d bloggers like this: