Is Hedera (HBAR) Heading the Wrong Direction Monday?

Hedera receives an average short-term technical score of 39 from InvestorsObserver analysis. Our proprietary scoring system considers the recent trading patterns of the coin by looking at the price movement to determine if it is trending in the right direction. HBAR holds a better recent technical analysis than 39% of coins at its current price. Investors who are focused on short-term growth and looking for hot and trendy coins will find the Short-Term Rank especially relevant when allocating their assets.

InvestorsObserver is giving Hedera a 39 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Hedera!

Trading Analysis

HBAR is currently $0.005728 (13.39%) above its 30-day low of $0.042795140 and -$0.015380 (-24.07%) below its 30-day high of $0.06390379. Additionally, HBAR is under its average price of $0.049893394 over the past month of trading with its current price of $0.048523395. Overall, the recent trading history of Hedera suggest that traders are currently neutral on the coin.

HBAR has a relatively high market cap for a coin with a total market value of $1,114,493,505.40. Hedera’s market value is relatively high since the largest 100 cryptos have a market cap above $1 billion and HBAR meets that criteria. Hedera’s average volume meanwhile is high with $92,371,141.06 worth of the coin traded over a typical 24 hour period. The cryptos volume is relatively high due to the most traded 100 cryptos typically having $100 million worth of the crypto traded over a 24 hour period. As of the past 24 hours, HBAR’s volume is below its average with $11,598,952.71 exchanged.

Hedera’s subclass Payments/Other: A coin used as payment for good and services or middle-man platform that allows investors to use other cryptocurrencies for payments, money transfers, withdrawals, deposits, and other functions. These coins are typically more specialized than the Digital Money coins that try to replicate all the functions of cash.

Summary

Hedera’s price movement over the past month has led to a an average short-term technical score due to recent trading giving more neutral signals for traders on the coin’s short-term movement.

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