🚨🔍 Hedera (HBAR) Price Analysis 📊
Hedera (HBAR) started the week positively but has faced significant volatility as it struggles to stay above the 20-day and 50-day SMAs. Last week, HBAR dropped to a low of $0.048 on Thursday before recovering by 1.73% to $0.050. The momentum carried into Friday, with a 3% rise to $0.051, but over the weekend, HBAR saw increased volatility and failed to break above the 20-day SMA, closing the weekend at $0.051.
This week began with persistent volatility. Sellers attempted to drag HBAR below $0.050, but buyers countered, pushing the price up by 3.84% to $0.052, just above the 50-day SMA. On Tuesday, bullish momentum picked up as HBAR surged 6.43% past the 20-day SMA to settle at $0.056. Buyers tried to push the price to $0.060, but momentum stalled at a high of $0.058. The current session sees HBAR down by 3%, with sellers aiming to push it back below key support levels.
HBAR’s next steps depend on whether buyers can regain momentum to retest the $0.060 level, or if sellers will succeed in driving the price lower, testing the $0.050 support.
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