Built on the hashgraph distributed consensus algorithm, hedera brings efficiency, security and stability to the table. Let's find out HBAR's possible price movements!👇 By CMCAlexandria Author: youngcryptowolf Editor: YousraAASheikh
At the time of this writing, HBAR is ranked the 33rd largest cryptocurrency, according to CoinMarketCap. TheHBAR claims to be a third-generation blockchain. With Hashgraph network, it is seeking to serve as a platform in which anyone can transact. Is this enough and what does HBAR have for us in 2022? Let's take a look at the charts!Looking at the monthly time frame, we can seeHBAR is now looking to confirm support, with a potential double bottom.
The structure we see in 2021 shows that it took roughly three candles to confirm support. History doesn't always repeat itself but it does often rhyme. The bulls have a couple more months to flip the script.Let's take a closer look!Sticking to our logarithmic chart, we can have a better look at the using the weekly time frame.The last time it was at this level, there was major consolidation before the next move.
A confirmation of support at this level sets HBAR for a retest of the range resistance. However, a loss of this level could send the price towards the $0.14 zone.We are now shifting down to the daily time frame and using the logarithmic chart. This time frame gives us a better look at when to pull the trigger.The price action was recently rejected at $0.22.. If there is a close above resistance, expect the price to revisit $0.25.
You can see that the last time HBAR made any significant moves against BTC was back in March. Since then, the price has been accumulating into a tighter range.
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