Hedera Hashgraph Holds Support as HBAR Eyes $0.135 Short-Term Target

Hedera Hashgraph (HBAR) is currently holding a key support level as market activity increases. Market analysts are keeping a close eye on the price action of HBAR, as it may rise or fall depending on the current market sentiment and the outcomes of key financial events. Technical levels may play a role in the next major price movement of the asset.

At the time of writing, HBAR is trading at $0.1087, with a 24-hour trading volume of $185.64 million and a market capitalization of $4.65 billion. Over the last 24 hours, the HBAR has gained 2.74%, signaling renewed market interest and cautious optimism among investors.

Source: CoinMarketCap

Hedera Hashgraph Shows Short-Term Weakness Signs

Crypto analyst GainMuse explained that HBAR is in a period of weakening, and this is reflected in the fact that the price structure of HBAR is showing signs of erosion. GainMuse noted, however, that this may be a short-term period of weakening before another move downward.

Source: X

Resistance levels for HBAR are currently seen at $0.110 and $0.125, and another fall in the price of HBAR may be seen at $0.090.

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HBAR Eyes Key Support Bounce

Meanwhile, another analyst, Sniper Trading, pointed out that the $0.10 price level has served as a strong support for the past month. The current support level remains strong, providing a foundation for a potential price bounce. The analyst also mentioned that upcoming events, particularly the FOMC announcements, could impact the next move of HBAR.

Source: X

For investors who are considering a short-term investment, Sniper Trading provided the following options for potential trades: to go long near $0.10, target $0.117 to make the first profit (17% gain), and target $0.125 to $0.135 to make the second profit target (25% to 35% gain). A stop loss is recommended below $0.099.

Overall, the current price movement of Hedera Hashgraph is showing a strong level of support while also preparing the way for potential price increases. As the financial world watches important levels and events, the Hedera Hashgraph token could be an important cryptocurrency to watch in the coming days.

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