HBAR Crypto News: Why the token is witnessing gains over 28%

• The HBAR crypto has witnessed a 58% price surge in just one week, according to CoinGecko.
• The RSI of HBAR crypto has shot up to reach 91.12, indicating momentum in the market.
• On 19 November the HBAR crypto was trading at $0.144632 with a 24-hour trading volume of $3,43,97,12,782.

In the volatile world of cryptocurrencies, where price swings are the norm, Hedera or HBAR crypto has emerged as a standout performer. The HBAR crypto has witnessed a 58% price surge in just one week and a staggering 179% increase over two weeks, according to CoinGecko. This has propelled the token its market cap to $5.43 billion.

What’s the reason for HBAR crypto’s rally?

HBAR crypto’s recent price movement shows a breakthrough in the token following a prolonged period of lull. The token has gained momentum, following the rumours that HBAR board member & ex-Binance US CEO, Brian Brooks, might be in the running for SEC chairman.  This has generated a lot of interest in the token, with its Ichimoku Cloud chart confirming a bullish trend.

Image Credit: Trading View

This has resulted in the HBAR crypto witnessing a massive buying surge with buyers accumulating the crypto. As a result, its RSI has shot up to 91.12, indicating momentum in the market.

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The MACD histogram also points to an increasingly bullish market trend with the blue line having its nose ahead of the trend line. The Ichimoku Cloud chart for the crypto confirms a bullish trend, with the price breaking above the cloud. The green cloud ahead provides strong support, and the Tenkan-sen (conversion line) above the Kijun-sen (baseline) signals solid short-term momentum.

Is HBAR crypto a good investment?

HBAR crypto has been gaining traction among investors due to its unique technological framework and increasing adoption. HBAR’s track record suggests significant growth potential. Historical performance and expert analyses indicate the possibility of substantial returns, with some predictions projecting up to a 440% increase over five years.

In fact, as of 19 November, the HBAR crypto was trading at $0.144632 with a 24-hour trading volume of $3,43,97,12,782. The 25th-ranked token was enjoying a market cap of $5,45,16,09,724 with a circulating supply of 37,69,30,33,213 HBAR coins, according to CoinMarketCap.

However, as with any investment, especially in the volatile crypto market, due diligence is essential. While HBAR offers promising growth prospects, investors should weigh the risks and ensure their portfolio is diversified.

In summary, the token holds significant potential for those seeking innovative and sustainable crypto investments, but caution and strategic planning remain key to maximizing returns.