FxWirePro- HBARUSD (Chart of the day)

Hedera is a decentralized, open-source, proof-of-stake public ledger that utilizes the leaderless, asynchronous Byzantine Fault Tolerance (aBFT) hash graph consensus algorithm.

Main features

Transaction per second 10000+

Average fee- $0.0001

Transaction confirmation- 3-5 seconds

HBARUSD showed a minor correction after a massive rally.

Any daily close above $0.20 confirms further bullishness.

HBARUSD gained more than 100% today after they enabled first tokenisation of BlackRock’s money market fund on Hedera with ArchaxEx and OwneralO. The pair holds above the short-term (21 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a high of $0.1842 and is currently trading around $0.1317.

The bullish invalidation can happen if the pair closes below $0.060. On the lower side, the near-term support is $0.1150.Any close below targets $0.090/$0.0600.

The pair's near-term resistance is around $0.150. Any breach above confirms minor bullishness. A jump to $0.180/$0.20 is possible. A surge past $0.20 will take it to $0.25/$0.30.

It is good to buy on dips around $0.1150 with SL around $0.080 for TP of $0.20.

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