In this Hedera technical analysis, we will examine the current price action, trading volume, key levels and indicators for HBAR-USDT. Hedera (HBAR) is a fast and secure blockchain platform that enables developers to build decentralized applications with ease. Its hashgraph consensus algorithm ensures high transaction throughput and low latency, making it an attractive choice for enterprise use cases. Additionally, Hedera’s decentralized governance model allows for community-driven decision-making, ensuring the platform remains resilient and adaptable to changing market needs.
Hedera Price Overview:
As of July 08, 2024, Hedera is trading at approximately 0.0662 USDT. Let’s dive into the detailed price action for HBAR-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.0647 |
| High (H) | 0.0685 |
| Low (L) | 0.0624 |
| Close (C) | 0.0662 |
| Volume (C) | 118,361,980.00 |
- Open (O): The opening price for today’s trading session was approximately 0.0647 USDT.
- High (H): Hedera reached a daily high of around 0.0685 USDT.
- Low (L): The daily low for HBAR-USDT was approximately 0.0624 USDT.
- Close (C): At the time of analysis, Hedera is trading near its daily close of 0.0662 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 2.32% |
| 3D Change (%) | -1.34% |
| 7D Change (%) | -13.69% |
| 30D Change (%) | -26.61% |
| 90D Change (%) | -36.04% |
| YTD Change (%) | -23.02% |
Over the past three days, HBARUSDT has dropped by approximately -1.34%, showcasing increased market volatility. Throughout the last week, it continued to decrease, with a loss of around -13.69%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with HBARUSDT maintaining a downward trend of approximately -26.61%, despite intermittent fluctuations. Examining the last 90 days, HBARUSDT has witnessed substantial decrease of approximately -36.04%, reflecting strong long-term confidence. Year-to-date, HBARUSDT has steadily decreased by around -23.02%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
Hedera Live Chart:
You can access a live price chart for HBAR-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.57497.
- Momentum score is -0.17456.
HBAR USDT Technical Analysis
Hedera Trading Volume:
The trading volume for Hedera (HBAR) over the past 24 hours has been insignificant, with approximately 118,361,980.00 USDT traded against HBAR. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): HBAR is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): Hedera is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for HBAR-USDT is currently in the low zone, around 37.25762. This suggests that Hedera is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
Hedera (HBAR-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Receive signals of caution for potential Hedera (HBARUSDT) downturns at 6.62e-02 USDT through bearish technical analysis, accompanied by weakened support and cautionary indicators.
Discover even more by checking out our comprehensive analysis on HBAR BTC Hedera Technical Analysis — a perfect follow-up if you enjoyed this post.
Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.