Hedera [HBAR] defies market trend – All you need to know about altcoin’s 27% hike!
The post Hedera [HBAR] defies market trend – All you need to know about altcoin’s 27% hike! appeared on BitcoinEthereumNews.com.
HBAR’s 10% hike was contrary to the broader market’s pullback If bullish sentiment continues to prevail, HBAR could head to $0.25 While most of the crypto market saw a slight pullback during the last trading session, Hedera [HBAR] emerged as one of the few assets maintaining its upward trajectory. Over the last 24 hours alone, HBAR gained significant traction by climbing by 27% on the charts. All while other altcoins struggled to hold their positions. HBAR’s price action – Sustained gains in a weak market HBAR’s latest price movement highlighted its strength against the broader market’s downturn. At the time of writing, it was trading at $0.235, having surged past resistance levels that had previously limited its upside. This bullish push seemed to be in line with a break above the 50-day moving average – A signal often associated with further gains when supported by rising trading volume. Source: TradingView The price chart indicated that if the uptrend continues, HBAR could target $0.25, which would be in line with previous resistance levels. A failure to sustain press time levels, however, could see a retest of support around $0.22. This is where its 50-day moving average lay at press time. On-chain volume – Strong activity behind the rally? On-chain volume trends offer a deeper perspective on HBAR’s price action. A rise in trading volume typically indicates greater investor interest, strengthening the price movement. Recent Santiment data highlighted that HBAR’s volume surged past 681.2 million – Reflecting a notable hike in trading activity. Source: Santiment This volume uptick suggested that market participants are actively engaging with HBAR, reinforcing its bullish outlook. If volume remains high, the likelihood of sustaining the uptrend increases too. Open Interest – More liquidity flowing into HBAR? Another important on-chain metric to consider is Open Interest [OI] –…
Filed under: News - @ March 2, 2025 3:12 am