On Monday, August 14, Hedera (HBAR) experienced a significant increase in price, reaching a high of $0.065. This marks a gain of over 62% since its lowest point in July. HBAR has outperformed established cryptocurrencies such as Bitcoin, XRP, and Ethereum.
According to projections from PricePredictions, Hedera’s price is expected to reach $0.66325 by August 31, indicating a minor increase from its current price.
Recent developments have highlighted the progress of Hedera Hashgraph, including the launch of Calaxy, a social media dApp built on Hedera’s technology. Calaxy connects content creators directly with their followers, showcasing the potential of distributed ledger technology to transform traditional paradigms.
Currently, HBAR is valued at $0.06533, representing a 16.43% increase in the past 24 hours. It is among the top 100 cryptocurrencies in terms of gains realized and has seen a notable surge of 18.98% in the past week.
In terms of price dynamics, HBAR has a support level at $0.05533, which has historically exerted influence. It is also heading towards a resistance level at $0.06448. The recent trend shows HBAR surpassing this resistance level, providing optimism for traders.
Disclaimer: This article does not provide investment advice and investing in cryptocurrencies involves risk.