Hedera receives a strong short-term technical ranking of 72 from InvestorsObserver data analysis. The proprietary ranking system focuses on the recent trading patters over the past month to determine the strength of its short-term technicals. HBAR has a superior recent technical analysis than 72% of coins based on these trading metrics. Investors primarily focused on shorter term investment strategies will find this technical analysis most relevant to their goals when determining whether to invest in a particular crypto.
Trading Analysis
Hedera is $0.005884 (13.75%) above its 30-day low of $0.042795140 while -$0.003718 (-7.10%) below its 30-day high of $0.05239740. In addition, HBAR’s current price of $0.048679389 is above its 30-day moving average price of $0.048082453, leading to a strong short-term technical score. Overall the recent trading history of Hedera suggest that investors are bullish on the coin at the moment.
HBAR has a high market cap compared to the majority of coins with a total market value of $1,211,853,442.09. 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 is high as $95,437,580.07 worth of the coin is typically traded over a 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. Over the past 24 hours HBAR’s volume is below its average with $11,361,430.42 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 trading over the past 30 days leads to its a strong short-term technical score due to recent price movement suggesting more bullish signals for traders on the coin in the near future.
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