HBAR, the native token of the Hedera ecosystem, is one of many best-performing cryptocurrencies over the previous 24 hours.
HBAR is outperforming the broader cryptocurrency market after including more than 6% to its worth up to now today.
The broader crypto market is retracing after beginning the week in a constructive trend. The whole cryptocurrency market stays above $1 trillion regardless of dropping much less than 1% of its worth within the final 24 hours.
Bitcoin stays within the inexperienced zone and is buying and selling above $22k per coin. The world’s main cryptocurrency by market cap has added much less than 1% to its worth today.
Ether continues to underperform regardless of the Merge getting nearer. ETH is down by more than 2% today and is buying and selling round $1,720 per coin.
HBAR, the native token of the Hedera ecosystem, is among the best performers amongst the highest 100 cryptocurrencies by market cap. HBAR has added more than 6% to its worth within the final 24 hours, outperforming the broader crypto market.
The constructive efficiency comes after Coinbase, one of many main crypto exchanges on the earth, announced its support of HBAR.
Coinbase will add support for Hedera (HBAR) on the Hedera community. Do not ship this asset over different networks or your funds could also be misplaced. Inbound transfers for this asset can be found on @Coinbase & @CoinbaseExch within the areas the place buying and selling is supported.
— Coinbase Assets (@CoinbaseAssets) September 12, 2022
Key ranges to observe
The HBAR/USD 4-hour chart is bullish as Hedera’s native coin has been performing effectively over the previous 24 hours. The technical indicators present that HBAR is outperforming the broader crypto market in the intervening time.
The MACD line crossed into the constructive line over the weekend and has remained there, indicating bullish momentum for HBAR.
The 14-day relative energy index of 62 exhibits that HBAR is transferring nearer to the overbought area of the market.
At press time, HBAR is buying and selling at $0.0683 per coin. If the bulls stay in management, HBAR might rally previous the primary main resistance stage at $0.0735 earlier than the tip of the day.
If the broader market recovers, it might push HBAR previous the $0.081 resistance level for the primary time since August.
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