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Since July 13, the Hedera Hashgraph price has been on the rise. In today’s trading session, we have seen prices rise by 5 per cent, marking a second consecutive push to the upside. We have seen Hedera Hashgraph price rise in the markets due to the current crypto environment, which has also been bullish for the past few trading sessions.
For instance, after dropping below the $1 trillion market capitalization a few weeks ago, the industry has climbed and is now above the level. Also, all major cryptocurrencies are on the rise, including Bitcoin, which is up by 12 per cent in the past 7 days.
Hedera Hashgraph and other altcoins have also followed the same trend, being positively correlated to most of the other cryptocurrency projects. Today, they are on the rise, which is also looking likely to continue for the next few trading sessions.
Hedera Hashgraph has not had a market-moving headline for the past few weeks. Its trading volume has also not been stable enough to result in the current bullish streak we are seeing in the markets.
Therefore, we can conclude that the latest push to the upside for HBAR has been majorly due to the current bullish cryptocurrency market. Looking at the chart below, we can therefore say that the current bullish trend will continue to rise and follow the bigger bullish trend of the cryptocurrency industry.
My Hedera Hashgraph price prediction expects the prices to rise and possibly hit the $0.08 price level. Should the current industry market forces continue, there is a high likelihood that we may see HBAR prices trading above the $0.1 price level in the next few trading sessions. However, should the prices fall below the $0.59 support level, then my analysis will be invalidated. It will also mean that the prices will be moving downwards instead of continuing with the bullish trend.
This post was last modified on Jul 22, 2022, 15:53 BST 15:53