HBAR Technical Analysis - Bulls Plan Breakout To Reach $0.40

Hedera is one of the largest widely used and sustainable enterprise-grade public networks for decentralized economies that allows businesses and individuals to develop powerful decentralized apps (DApps).

Hedera Hashgraph employs a new consensus method known as Hashgraph consensus to protect its network. The governing council of 39 organizations with a wide range of interests that cover eleven diverse industries. They are responsible for directing on the Hedera codebase, making platform decisions, and running the initial nodes of the Hedera public network.

The live HBAR token price today is $0.2394 with an intraday trading volume of $179,349,291. The coin price is up by 8.43% in the last 24 hours. With a live market cap of $4.33 Billion, the network remains in the Top 50 crypto list.

The HBAR coin price continues the wave of lower low formations under the influence of a resistance trendline in the daily chart. The price shows a downfall of 30% in the last month including the 15% jump in the last week. The price approaches the resistance trendline with increased bullish morale to overcome the selling pressure.

Let’s have a deepened insight into technical analysis of HBAR token and see what the indicators have to say about it.