The Hedera Hbar token jumped almost 12% on Friday, climbing $ 0.2657 and surpassing all other cryptocurrencies among the first 20 by daily gain, according to Coindesk data. The rally followed an announcement of the popular commercial platform Robinhood that it had added support to the assets, increasing its exposure to a large base of American retail investors.
The list sent highly higher hbar trading volumes, with an escape from noon around 12:00 pm UTC on July 25, pushing prices through the bar of $ 0.26 in the middle of more than 713 million tokens exchanged in one hour. This decision established the zone of $ 0.26 as a short -term resistance, although the token continued to show a strong momentum on Saturday.
Hedera, unlike traditional block channels, operates on a unique hashgraph consensus model which allows high -speed transactions and low -scale cost. It is designed to support decentralized applications, NFT and DEFI, and is widely known for its energy efficiency. The native token of the network, Hbar, is used to pay network services, participation for security and encourage participation in nodes.
An analyst thinks that Hbar could have more room to run.
Friday, the Crypto Chartnerd analyst said on X that Hbar could be established for a major movement above – but only if it erases a key technical obstacle. More specifically, he highlighted a level of resistance almost $ 0.35, which, according to him, aligns with something called the Supertend indicator – a commonly used tool that helps traders to identify when an asset can drop from a downward trend to an upward trend.
According to Chartnerd, if Hbar can close above this level with a strong dynamic, the token could grasp what the traders call the “price discovery” – a step where there are no previous summits to act as barriers. He cited the levels of fibonacci extension, which are often used to estimate future price targets during high increased trends, suggesting that Hbar could potentially reach $ 1.26, or even $ 3.30 in a bullish scenario.
Strengths of technical analysis
- According to the Technical Analysis Data model of Coindesk Research, Hbar went from $ 0.24 to $ 0.27 over the 24 -hour period ending on July 26 at 06:00 UTC, winning almost 12% during the day.
- The strongest decision occurred around noon on Friday, when a large peak in the negotiation volume increased prices over $ 0.26.
- After reaching this level, the token was briefly withdrawn, suggesting that $ 0.26 can act as a short -term ceiling.
- Support maintained a company around $ 0.24, with a building of purchasing activity regularly throughout the day and to form a clear rise.
- Merchants are now watching for a possible move above $ 0.27, which could point out other gains in the weekend.
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