The prize of HBar, the native cryptocurrency of Hedera Hashgraph, rose six consecutive days, and reached the highest level since 8 May as the crypto -market trally increased and improved its decentralized financial network.
Hedera Hashgraph (HBAR) Token jumped to a highlight of $ 0.2285, the highest level since March 27. It has risen by 80% from the lowest point in June, whereby the performance of most altcoins is reflected.
The HBar price also jumped when the total value in the ecosystem continued to rise. The network has over $ 215 million In assets, by the year to date of $ 151 million. Some of the greatest players in the ecosystem are Stader, Saucerswap, Bonzo Finance and Libre Capital.
More data show that the volume in its decentralized exchange networks increased last week. These protocols have treated more than $ 15.6 million in the last 24 hours and more than $ 80 million during the week.
The most important thing is that the range of stablecoins in the network has risen to more than $ 151 million. This rise marked an important change after these tokens reached a low of $ 40 million at the end of last month. The Stablecoins are approaching their highest point of $ 212 million.
An increase in stablecoin assets is a good thing because it indicates that users and investors use the network.
In the meantime, investors are very optimistic that the Securities and Exchange Commission will approve the submitted HBar ETFs later this year. Such a movement will probably lead to an increased influx of investors into Wall Street.
HBar Price Technical Analysis
The daily graph shows that the HBar price also recovered after it had formed a double bottom pattern for $ 0.1255. A double bottom is one of the most bullish patterns in technical analysis
Hedera price is approaching the neckline at $ 0.2288, the highest point on 12 May. This double top pattern has a height of approximately 45%.
Hbar Price has moved above the exponential advancing averages of 50 days and 100 days. Moreover, the relative strength index and the MACD continue to rise.
That is why token will probably continue to rise because bulls focus on the most important point at $ 0.3327, 45% above the current level. This goal is set by first measuring the depth of the double bottom and then the same distance to the neckline.
