- Hedera Hashgraph is pushing for $0.08538374 to the upside on a stream of positive headlines.
- HBAR added Dell to the governance council after Ubisoft, IBM, Google, Boeing, and Deutsche Telekom had already confirmed.
- Outside tail risks could throw a spanner in the works and trigger an aggressive knee-jerk reaction.
Hedera Hashgraph (HBAR) price is pushing for a 10% for the week with $0.08538374 as a target to the upside, which was a key level back in August of last year. The price action in HBAR is puzzling traders as it is nearly the only cryptocurrency firmly rallying against every other crypto that is lagging. The biggest reason for the outstanding victory comes after the latest addition of Dell to the governance council as Ubisoft, IBM, Google, Boeing, and Deutsche Telekom already teamed up, and the Dell addition will help clients in their transition towards Web 3.0.
Hedera Hashgraph against the tide, but for how long
Hedera Hashgraph price is exponentially at risk of a sharp decline in a knee-jerk reaction as outside pressures and tail risks emerge. This week alone, central banks came out with harsh warnings of tighter and more challenging trading conditions, while in Ukraine, the Russians have started the first chapter of their second offence to gain control. And if that is not enough, energy, rent, and used car prices in the US are picking up again, adding to higher inflation and a possible inflation spike.
HBAR, thus could, at any given point, see a huge bear run coming in hard from global markets. Should a shocking event occur, for example, a Russian missile hitting a NATO country, nuclear weapon usage or, in the case of data, US inflation on Tuesday jumping higher instead of declining. All those elements are enough to flip the momentum and see HBAR drop towards $0.06039458 near the monthly pivot with 20% losses out of it.
HBAR/USD weekly chart
As long as bulls can maintain their ecosystem in HBAR, all is fine. But then, more positive headlines must overcome the current bearish sentiment rolling through the markets. From a technical point of view, the Relative Strength Index is starting to overheat, but there is still room to get to $0.08538374 in time for a break and close above that level if possible.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Ripple's XRP saw increased buying pressure as Trump taps pro-crypto Mark Uyeda as acting SEC Chair
Ripple is up 5% on Monday after US President Donald Trump announced pro-crypto Mark Uyeda as the new acting Securities & Exchange Commission Chair. It follows increased buying activity across XRP market.
Donald Trump selects pro-crypto Mark Uyeda as acting SEC Chair
A notice from the White House on Monday revealed that President Donald Trump selected Securities & Exchange Commission Commissioner Mark Uyeda to replace Gary Gensler as the agency's acting Chairman.
Crypto Today: BTC, Solana, XRP set new $3.7T record on Trump inauguration
The global crypto market capitalization grew by 2.4% on Monday, reaching a new all-time high of $3.7 trillion. Cumulative crypto market trading volume crossed the $640 billion mark for the first time since November.
Ethereum Price Forecast: ETH set for rally as its Foundation allocates 50,000 ETH to DeFi
Ethereum trades around $3,330 on Monday following the general crypto market decline stemming from traders' reaction to Unites States President Donald Trump's failure to mention crypto during his inauguration.
Bitcoin: BTC rallies above $102,000 ahead of Trump’s inauguration
BTC's price continues to trade in the green, trading above $102,000 at the time of writing on Friday after rallying more than 7% this week. Recent US macroeconomic data released this week supported the rise of risky assets like BTC.
Trusted Broker Reviews for Smarter Trading
VERIFIED Discover in-depth reviews of reliable brokers. Compare features like spreads, leverage, and platforms. Find the perfect fit for your trading style, from CFDs to Forex pairs like EUR/USD and Gold.