Tuesday, November 29, 2022
    HomeMarketHBAR is down by more than 6% despite Hedera’s latest milestone

    HBAR is down by more than 6% despite Hedera’s latest milestone


    HBAR, the native token of the Hedera ecosystem, has been underperforming regardless of attaining a brand new milestone. 

    The cryptocurrency market has continued its poor begin to the week. Over the past 24 hours, the cryptocurrency market has misplaced practically 5% of its worth. Because of this, the overall market cap has dropped under the $1 trillion mark for the primary time this week.

    Bitcoin has dropped under $22k and will lose the assist stage round $21k if the bears proceed to stay in management. 

    Ether, the second largest cryptocurrency by market cap, can be down by greater than 9% within the final 24 hours and at present trades under the $1,500 psychological stage.

    Nonetheless, HBAR, the native token of the Hedera blockchain, has been underperforming over the past 24 hours. HBAR has misplaced greater than 6% of its worth to this point at present and might be in line for additional losses.

    HBAR’s poor efficiency comes regardless of the Hedera community reaching a brand new milestone. 

    Based on the HBAR Basis, the event staff behind the Hedera blockchain, the Hedera community has reached a million HBAR accounts on the Hedera mainnet. 

    Key ranges to observe

    The HBAR/USD 4-hour chart is bearish as Hedera has been underperforming over the previous few days. The technical indicators present that HBAR may wrestle additional over the approaching hours or days. 

    The MACD is under the impartial zone, indicating robust bearish momentum for HBAR. The 14-day relative power index of 37 additionally reveals that HBAR may quickly enter the oversold area.

    At press time, HBAR is buying and selling at $0.06364 per coin. If the bearish development continues, HBAR may drop under the $0.06035 assist stage earlier than the tip of the day.

    Until there’s an prolonged dropping streak, HBAR ought to keep its value above the $0.005860 assist stage within the quick time period. 

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