The Hedera Hashgraph (HBAR) is retreating after falling sharply in the last two weeks of September. The price of HBAR is trading at $ 0.3885, which is roughly 35% above the low of September 20.
Hedera’s drive fades
Hedera Hashgraph is a high-profile blockchain project aimed at business users. The network helps users create decentralized applications that solve specific problems. Unlike other blockchain projects, the network is known for its governing council which is made up of some of the largest technology companies in the world such as IBM, Facebook, and Wipro.
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Hedera Hashgraph has gained significant adoption in recent weeks. Sparkle recently partnered with Retail Data Systems and Hedera Hashgraph to launch their eReceipts service. Similarly, Acoer adopted Hedera to build its decentralized management and protection of user rights.
Liechtenstein Blockchain Innovation (LCX) also partnered with Hedera to set a new standard for tokenized digital assets in securities.
This trend is likely to continue, especially as more developers learn more about the technology. Hedera has already released $ 5 billion to build its ecosystem. The foundation will distribute around 10.7 billion HBAR, in one of the largest grants in the industry. Hedera also partnered with Filecoin to offer Web3 interoperability grants.
The Hedera Hashgraph price has rebounded in recent days. You are not alone, as other cryptocurrencies such as Bitcoin and Ethereum have also seen a cautious recovery. Bitcoin is trading at $ 47,000, which is about $ 5,000 above where it was last week.
Similarly, the total market capitalization of cryptocurrencies tracked by CoinMarketCap has risen to more than $ 2.1 trillion.
Therefore, from a fundamental perspective, there is a possibility that Hedera Hashgraph will continue to rise in the long term. Furthermore, investors are constantly on the lookout for the next big thing in cryptocurrencies.
Hedera Hashgraph price prediction
The daily chart shows that the Hedera Hashgraph price has rebounded in recent days. The price is a few points below the important resistance level at $ 0.4565, which was the previous all-time high. The price is above the 25- and 50-day moving averages.
It is also forming the handle section of the cup and handle pattern. In price action analysis, this pattern is usually a bullish sign.
Therefore, I suspect that the HBAR price will soon cross above the key resistance at $ 0.4565 and then rebound to a new all-time high.
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