2024

Hedera

Rise

<p>The post <a href="https://coinpedia.org/price-analysis/hbar-price-shoots-10-eyes-0-10-with-saudis-support/" rel="noopener noreferrer nofollow">HBAR Price Shoots 10%, Eyes $0.10 With Saudi’s Support</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>With a sharp correction following the jump to $0.10, the HBAR price struggles to find a strong footing to hold off the incoming supply. Currently, the buyers plan a reversal at the crucial dynamic 200D EMA, leading to the sharp jump last night.&nbsp;</p>
<p>However, the overhead supply and the declining 50D EMA puts a quick stop to the bullish revolt. Nevertheless, the price action displays a bullish trend continuation possibility with a post-retest reversal.&nbsp;</p>
<p>The spike in HBAR price started with Hedera making an announcement of the DeepTech Venture Studio launch in Saudi Arabia. It comes as a new launch of a five-year plan valued at $250 million.&nbsp;</p>
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   <p lang="en" dir="ltr">As part of a five-year agreement valued at $250m with the Saudi Ministry of Investment (<a href="https://twitter.com/MISA?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MISA</a>), <a href="https://twitter.com/The_Hashgraph?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@The_Hashgraph</a> Association has announced the launch of the DeepTech Venture Studio – empowering companies to develop innovative technological solutions. <a href="https://twitter.com/hashtag/web3?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#web3</a><a href="https://t.co/wnqA9H4rm4" rel="noopener noreferrer nofollow">https://t.co/wnqA9H4rm4</a> <a href="https://t.co/Yi6EJWqEh6" rel="noopener noreferrer nofollow">https://t.co/Yi6EJWqEh6</a></p>— Hedera (@hedera) <a href="https://twitter.com/hedera/status/1754846420484477016?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 6, 2024</a>
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<h2 class="wp-block-heading" id="h-will-hedera-crack-the-0-10-ceiling">Will Hedera Crack The $0.10 Ceiling?</h2>
<p>With the downfall trend in the daily chart, the HBAR price action formed a falling wedge pattern, accounting for a 30% drop. In the recent turns of events, the bullish reversal from the support trendline breaks the overhead trendline to test the 50-day EMA.</p>
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="464" src="https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-1024x464.png" alt="" class="wp-image-267691" srcset="https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-1024x464.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-768x348.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-1536x696.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/02/07110640/image-55.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Source- <a href="https://www.tradingview.com/x/jc6vqEgB/" rel="noopener noreferrer nofollow">TradingView</a></p>
<p>However, the quick reversal from the 50-day EMA retests the bullish breakout and shows an intraday fall of 4.27%. Currently, the HBAR price trades at $0.0717, while the bearish candle warns of a failed retest.&nbsp;</p>
<p>Further, the volume analysis showcases a sharp rise supporting the breakout candle. However, the retest comes with a dip which increases the post-retest reversal possibility.&nbsp;</p>
<p><strong>Technical indicator:</strong></p>
<p><strong>RSI indicator:</strong> The daily RSI line shows a bullish spike, failing to surpass the 50% line. Nevertheless, the turnaround from the oversold boundary reflects a surge in underlying demand.&nbsp;</p>
<h2 class="wp-block-heading" id="h-will-hbar-price-rise-above-0-10">Will HBAR Price Rise Above $0.10?</h2>
<p>Considering the buyers manage to halt the intraday fall to regain trend control, the HBAR price can witness a breakout rally moving forward. Sideline traders can even find the 50D EMA breakout as an entry spot. Optimistically, the bullish breakout can reach the $0.10 mark.&nbsp;</p>
<p>On the flip side, the failure to reverse the intraday fall can lead to a drop at the 200-day EMA.&nbsp;</p>

HBAR Price Shoots 10%, Eyes $0.10 With Saudi’s Support

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