Is it time to buy Hedera Hashgraph after the latest gains?

Minersgarden
Is it time to buy Hedera Hashgraph after the latest gains?
Binance


Hedera Hashgraph Token Gained 14% Last Week

The differentiation of the Hedera network is a source of strength

Native token HBAR encounters resistance

Hedera Hashgraph HBAR/USD has returned 14% over the past week. For investors, the gains raise the obvious question of whether the cryptocurrency will sustain gains. The analysis found that this is not the case unless key breakthroughs and crypto sentiment persist.

Phemex

Hedera Hashgraph claims to be an encrypted network that allows anyone to deploy applications. Hedera differentiates itself by limiting the nodes used to determine transaction history. In this way, it reduces potential changes to transactions. Hashgraph believes that this feature can ensure that companies use data to make decisions. Companies like IBM have been drawn to Hedera’s model.

While Hedera’s use case is unmistakable, it faces competition from other blockchains. Investors interested in the native token HBAR need to observe key levels before entering.

HBAR hits resistance in bullish week

Source – TradingView

HBAR is bullish after this week’s gains. The MACD line is above the moving average, confirming the bullish momentum. However, technical traders will be curious to know that HBAR has just met resistance at $0.07. The coin is consolidating and could break below as the bullish momentum fades. This is speculative as any potential surge could see HBAR trade above resistance.

We insist that HBAR must break above resistance to demand higher prices. If it happens successfully, HBAR can recover $0.1. The next level is $0.15, depending on the prevailing cryptocurrency sentiment. Currently, HBAR remains vulnerable to $0.05.

generalize

Despite the weekly gains, HBAR is trapped by resistance at $0.07. The coin is likely to slide further. A break above the resistance could help HBAR to $0.1.

Bybit

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