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Hedera (HBAR) Price Challenges a Resistance at $0.3 After a 25% Weekly Surge

Hedera Hashgraph platform is a decentralized, distributed ledger technology. It leverages the cryptography of blockchain to replace prior networks with more efficient and scalable solutions that are able to handle up 1000 times as much transactions per second than current systems can achieve on their best days. Hedera has seen tremendous growth in value since its inception into the market at $0.14 USD during December 2017.

The “hedera price” is a cryptocurrency that has been on the rise recently. The coin has seen a 25% weekly surge and is currently trading at $0.3 after breaking through a resistance of $0.2 last week.

Hedera (HBAR) Price Challenges a Resistance at $0.3 After a 25% Weekly Surge

 

As the year draws to a close, the crypto market is seeing another bull run, with most of the crypto market enjoying significant price increases. Hedera (HBAR), the 33rd most valuable cryptocurrency by market capitalization at the time of writing, is a native coin of one of the world’s most widely utilized, long-lasting, enterprise-grade public networks.

Hedera’s network is focused on the decentralized economy, enabling both individuals and businesses to build strong decentralized applications in a dedicated environment. Furthermore, the project was created to be more efficient and fair, with the goal of removing the constraints that earlier blockchains continue to face today.

The project conducted an ICO in August 2018, making it about three and a half years old, however it only opened free access to its mainnet in September 2019, more than a year later.

Price performance of Hedera (HBAR)

As previously stated, the project began in late September 2019 at a fee of $0.087. Unfortunately, its price decreased to $0.03 shortly after introduction, and then even lower, to $0.01 in early 2020. Things began to shift in mid-February 2020, when the project’s currency soared back to $0.06, virtually recovering to its initial value.

Unfortunately, the COVID-19 pandemic-related price drop in mid-March cut this short, causing a worldwide financial market disaster. However, whereas other cryptocurrencies rapidly recovered from their losses, Hedera remained stuck around $0.03, with only minor movements between that level and $0.05.

Its price did not change much for the remainder of 2020, but as soon as 2021 began, it began to experience some significant action.

In 2021, the price of HBAR will rise.

The price of HBAR skyrocketed as soon as the year 2021 began. Hedera rose from $0.03 on January 1st to $0.4 on March 15th, fueled by the rise driven by Bitcoin and several other currencies that rapidly joined in. This was the outcome of an almost continuous price increase, but the $0.4 resistance proved to be pretty strong.

Hedera’s pricing tried to break it three times between March 15th and April 13th. The first two times it attempted it, though, it was rejected at $0.3. It was thrown down to $0.25 after the third time, and after a short effort to recover, it was caught up in the mid-May price fall, which brought it down to its new low at $0.20.

However, on July 20th, the price saw another chance to rise, and this time, it was able to break over the barrier at $0.4 to hit $0.5. This was and continues to remain its all-time high, since it was rejected after this milestone and fell to $0.35 on September 28th.

Over the following month and a half, the price soared once again, reaching $0.45 on November 12th. Unable to go further and trapped in another negative wave, the price ultimately collapsed again, landing at the bottom once again. The new bottom was at $0.25, which was a little higher than the previous one, but it was more than enough to enable the coin to recover.

This most recent spike occurred during the previous ten days, allowing Hedera to rise from $0.25 to $0.35. While this level is presently keeping HBAR from moving higher, it represents a 25% rise in the previous week, and as long as the market continues to expand, the HBAR price will have a chance to break through the barrier and recapture its prior levels, including its ATH.

Visit our Investing in Hedera guide to learn more about this coin.

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