Hedera (HBAR) has recently seen a surge in price, partly due to increased support for board member Brian Brooks, who was nominated by former President Trump as a candidate for chairman of the U.S. Securities and Exchange Commission. In addition, Hedera's WISeSat.Space satellite launch in partnership with SpaceX has also driven increased demand.
HBAR Key Statistics
The cryptocurrency has fallen in price over the past 24 hours, but has gained more than 1,00% over the past week and month, providing a sign of hope for investors.
HBAR/USD Market
Key Levels
HBARUSD – Daily Chart
Hedera (HBAR) has recently experienced a strong uptrend and has broken above the upper Bollinger Band, showing bullish momentum. Against the US dollar, it is trading around $0.14. HBAR is facing an immediate resistance at $0.16 and if the momentum continues, further resistance levels are expected at $0.18 and $0.20. The uptrend is supported by the MACD indicator, where the MACD line is above the signal line, indicating sustained bullish sentiment. However, if the price fails to break above the $0.16 level, a retracement could occur, taking it back to the support area.
On the downside, HBAR has found support at $0.12, which is in line with the middle Bollinger Band and could act as a buffer in case of price declines. If bearish pressure intensifies, additional support can be seen at $0.09 and $0.06, which are key levels to watch closely. Wider Bollinger Bands suggest increased price volatility and traders should watch for a potential consolidation phase before making any significant moves. Overall, HBAR appears to be in a bullish phase, but caution is warranted around key resistance and support areas.
Hedera’s meteoric rise: Brian Brooks’ nomination and strategic partnerships drive price surge
With Donald Trump promising to fire SEC Chairman Gary Gensler, a widely hated figure in cryptocurrency circles, expectations are growing for his successor. Trump’s nomination of Hedera board member Brian Brooks as a candidate has galvanized Hedera supporters.
However, Brooks’ nomination is not the only catalyst for Hedera’s meteoric rise, with its price up 138% in the past week and a staggering 155% in a month. Some investors are now viewing HBAR as the “Solana of 2024” as it rises in popularity. Notably, Hedera’s alliances with influential institutions such as the Nairobi Stock Exchange and the Kenyan Main Stock Exchange are boosting its momentum.
Exploring the possibility of HBAR-SpaceX collaboration
Additionally, Hedera’s innovative technology will support the planned January 2025 launch of the WISeSat.Space satellite – a groundbreaking mission in partnership with SpaceX to enable the first direct space-based exchange. This mission marks a milestone in advancing the convergence of encrypted satellite communications and groundbreaking blockchain.
HBAR/BTC Performance Insights
The HBAR/BTC daily chart shows strong bullish momentum as the price breaks above the upper Bollinger Band, indicating increased volatility and an upside breakout. After reaching a high of 0.00000198, the price retreated to 0.00000154, which could mean profit booking by traders. The bullish MACD crossover supports this uptrend, indicating sustained buying pressure. If the support level of 0.00000135 holds, HBAR may attempt to retest the recent highs; however, if this support cannot be maintained, the price may fall to 0.00000120 or 0.00000088, where the previous support level may stabilize the price.
HBARBTC – Daily Chart
CryptoXman, a well-known figure in the cryptocurrency community, recently expressed his bullish sentiment on Hedera Hashgraph (HBAR) on social media. The analyst believes that the upcoming approval of the HBAR ETF will trigger a large influx of institutional investment, which may push the price of HBAR to new heights. He believes that the approval of the ETF may cause billions of dollars to flow into Hedera, pushing the price of HBAR to the range of $1 to $1.50, and up to $2.50 in this cycle.
$HBAR #ETFETF approval is coming soon which will finally unlock mass institutional adoption and billions of dollars flowing into #Hedera which will drive #HBAR to the moon preferably to $1-$1.50 with a high of 25x in this cycle ($2.50). Don't be in… pic.twitter.com/PNqk4zs1LR
— CryptoXman (@virage007) November 18, 2024
Alternatives to HBAR
Hedera (HBAR) achieves the advantages of accelerated transaction processing, enhanced scalability and improved efficiency compared to traditional blockchain technology by using the Hashgraph consensus algorithm. This technological advantage creates a favorable environment for the emergence of innovative projects like Pepe Unchained ($PEPU).
Pepe Unchained's recent presale was successful, raising over $37.8 million, demonstrating a high level of investor confidence. To further fuel growth, the project launched a developer grant program designed to foster the development of cutting-edge applications on its platform. As a result, Pepe Unchained's visibility in the cryptocurrency space has greatly increased, benefiting from expanding community engagement and increased media attention.
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As a second-layer scaling solution based on Ethereum, Pepe Unchained addresses the network's scalability limitations while maintaining strong security. By providing fast transaction processing, reduced fees, and enhanced security features, $PEPU provides an efficient and cost-effective framework for the popular Pepe meme coin and potential future applications. With a focus on scalability, security, and community-driven development, Pepe Unchained has good growth potential within the Pepe ecosystem and in the wider field.
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