HBAR Price Outlook After New Hedera Hashgraph Integration

Hedera Hashgraph price held quite well after several important ecosystem news. The HBAR token jumped to a high of $0.055 on Tuesday, the highest level since June 25th. In all, the coin has risen by over 17% from the lowest level this month.

Hedera Hashgrap news

Hedera Hashgraph is a leading challenger to Ethereum. It is a blockchain that has faster speeds and low transaction costs. Unlike Ethereum, transactions in its ecosystem completed within seconds while having a fraction of the cost.

In a statement, the developers said that Shinhan Bank, a leading company in South Korea, had successfully piloted the first stablecoin remittance on the Hedera network. The bank did that in collaboration with SCB TechX, a large financial institution in Taiwan.

As part of the transaction, the two parties achieved a real-time settlement and real-time forex rate integration. The currencies involved in the transaction were Thai Baht, New Taiwan Dollar (NTD), and South Korean won. In a statement, the Chief of Blockchain at Shinhan Bank said:

The other important Hedera Hashgraph news was that the developers introduced new features on Monday. They integrated Metamask in the ecosystem and started supporting JSON-RPC enabled wallets. As a result, it will be possible to transfer $HBAR to and from 0x accounts.

Hedera price prediction

HBAR price has made a strong comeback in the past few days. On the four-hour chart, the coin is being supported by the 25-period and 50-period exponential moving averages. It also moved slightly above the key resistance level at $0.054, the highest level on July 14th. Also, the coin is hovering near the 23.6% Fibonacci Retracement level.

Therefore, Hedera price will likely have a bullish breakout as buyers target the next resistance level at $0.058, the highest level on June 25th. This view will be confirmed if the price moves above the key resistance level at $0.055, the highest point this week. A drop below the support at $0.052 will invalidate the bullish view.