Hedera (HBAR) Price Surges 15% Despite Overall Market Fumble

Hedera (HBAR) Price Surges 15% Despite Overall Market Fumble
  • The global crypto market cap is $1.70T, a 9.08% decrease over the last day.
  • HBAR is currently hovering around the daily support level of $0.22.

It’s no surprise that altcoins have closely followed the trend of bitcoin almost always. On the other hand, these altcoins have been able to escape out of the shadows of the pioneer cryptocurrency and carve out a rally of their own at times. According to CoinMarketCap, the global crypto market cap is $1.70T, a 9.08% decrease over the last day.

As additional transactions are added to the network, Hedera’s performance rises, making it a valuable tool for boosting transaction speeds. So, to surpass the 100,000 TPS mark, it plans to compete with the likes of VISA. On the other hand, Hedera can handle 6.5 million transactions a day on average, with a transaction time of 5 seconds in the present day and age.

Hovering Around Daily Support Level

Popular analyst Credible Crypto has a strong prediction for HBAR. As seen by the digital asset’s recent decline, the analyst indicated that the asset must regain the charted zone before it can be said to have reached a bottom.

According to the analyst’s statement:

“would like to see us hold the $0.22-$0.23 region and then make another attempt at reclaiming the weekly supply.”

HBAR/USDT: Source: TradingView

HBAR, on the other hand, is jumped off the daily support level of $0.22 indicated by Credible Crypto. A rebound back to the upward was possible here, but the downturn could continue in that direction if it falls through.

If the asset continues to move at its present rate, it may reach values of between $0.7 and $0.75 in the near future. According to CoinMarketCap, the Hedera price today is $0.259141 USD with a 24-hour trading volume of $166,223,175 USD. Hedera has been up 15.82% in the last 24 hours.

A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.