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HBAR Price Analysis: Bulls Step in Amid Latoken Listing, London School of Economics Joins Hedera Council

HBAR
  • Hedera has bounced back to trade slightly higher on the day
  • At the time of writing, HBAR was exchanging hands at $0.2372, up 3.47% on the day
  • The London School of economics and political science (LSE) has joined the Hedera Governing Council

The crypto markets are rather quiet on Thursday, with a majority of tokens stuck inside yesterday’s range. Hedera has bounced back to trade slightly higher on the day after bulls stepped in from yesterday’s $0.214 low. At the time of writing, HBAR was exchanging hands at $0.2372, up 3.47% on the day. Hedera Hashgraph has a present market capitalization of $2.14 billion with a trading volume of $225 million over 24 hours. In an announcement made by the hedera network on August 19, the London school of economics and political science (LSE) has joined the Hedera Governing Council to advance the university’s growing research and commercial outreach ”in Blockchain and Distributed Ledger Technologies (DLTs), providing opportunities for students and faculty related to hackathons.” HBAR also went live on Latoken today while trading on the USDT pair.

Key Levels
Resistance Levels: $0.3500, $0.3000, $0.2500
Support Levels: $0.2000, $0.1800, $0.1500

HBAR/USD Daily Chart: Ranging

HBAR/USD Daily Chart

HBAR restored the positive momentum on Thursday, trading to highs of $0.244 on August 19. While some stabilization cannot be ruled out, the price could soon resume upside direction as the RSI is slightly pointing up above the 50 neutral levels. If the bulls can rally the HBAR/USD pair back above the $0.287 barrier, then further upside towards the $0.306 and $0.374 areas is increasingly likely.

Overall, the $0.459 barrier coinciding with the all-time high remains the main upside objective of the HBAR/USD bulls. On the contrary, a step below the MA 200 at $0.231 could last until the price enters the $0.214-$0.199 level coinciding with the daily MA 50. A break lower would shift the short-term outlook to negative and neutral respectively, bringing the $0.154 and the $0.135 levels next into view.

HBAR/USD 4-Hour Chart: Ranging

HBAR/USD 4-Hour Chart

A buyer’s pullback from the $0.277 high generated a few days ago had the HBAR/USD pair move south below the MA 50 at $0.236 before the price rebounded at $0.215. For a jump higher, upward momentum would need to propel the price through the MA 50, before the $0.265 and the $0.28 levels could be considered. If the RSI keeps improving, the bulls could revisit the $0.30 and $0.35 levels. Any significant step higher could open the door for the retest of the all-time highs at $0.45.

In a negative scenario, the strengthened obstacle of the MA 50 would need to hold, pushing the price back down to retest initial support of $0.214. The next level would be the MA 200 AT $0.20 which if fractured, could see a bearish comeback. In brief, HBAR/USD is likely to see further upside in the short-term, but a closing price comfortably above the moving averages is required for the rally to get more legs.

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

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