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Hedera Hashgraph’s native cryptocurrency, HBAR, has been making headlines recently as it recorded a new all-time high (ATH) for the year, experiencing a remarkable 9.89% increase in value. This surge in price has captured the attention of both investors and enthusiasts alike, especially considering the turbulent journey HBAR has undergone over the past year. As the market eagerly watches the bullish momentum of HBAR, the question on everyone’s mind is whether this rally will persist. 
<h2 class="p1" id="strong-span-class-s1-understanding-hbar-and-hedera-hashgraph-span-strong">Understanding HBAR and Hedera Hashgraph</h2> 
To comprehend the significance of HBAR’s recent performance, it’s essential to understand its role within the broader ecosystem of Hedera Hashgraph. HBAR serves as both a general-purpose cryptocurrency and the utility token of the <a rel="nofollow" href="https://hedera.com/" target="_blank">Hedera network,</a> powering transactions and applications within the platform. Hedera Hashgraph itself is a cryptocurrency network designed to facilitate transactions and deploy applications, overseen by a group of businesses. Its unique feature lies in its patented algorithm, the hashgraph, which boasts superior transaction processing capabilities compared to traditional blockchains. 
<h2 class="p1" id="strong-span-class-s1-hedera-price-history-span-strong">Hedera Price History</h2> 
To gauge HBAR’s potential, it’s essential to understand its price history and reactions to past market events. While past performance doesn’t guarantee future results, it does offer valuable insights. 
In its early days, Hedera Hashgraph (HBAR) maintained a stable price between $0.01 and $0.08, reflecting its steady development and the slow growth of its community. However, the year 2021 brought significant volatility to HBAR’s price. 
At the beginning of 2021, HBAR experienced a surge, rising from $0.03 to nearly $0.45 by mid-March, riding the wave of a broader cryptocurrency market boom. However, this upward momentum was short-lived as the price began to decline in April, in line with the overall market downturn, reaching a low of $0.1559 by July 21st. 
In September 2021, HBAR witnessed a resurgence, reaching an all-time high of $0.57. This spike was fueled in part by growing interest in non-fungible tokens (NFTs) and the announcement by the Hedera Governing Council to allocate $5 billion in HBAR for ecosystem development. Despite this peak, the year ended with extreme volatility, with HBAR closing at nearly $0.3. 
The year 2022 brought further challenges for HBAR, with fluctuations in early 2022 seeing the price reach $0.33 before struggling to maintain this level, often hovering below $0.3. The de-pegging of UST and the collapse of LUNA in May, followed by issues faced by Celsius Network in June, added further pressure to the price, leading to lows of $0.075 and $0.058, respectively. 
While there was a brief surge in September due to expectations surrounding a potential listing on Coinbase, the eventual listing in October did not have a significant impact on the price. The year ended on a low note with the collapse of the FTX exchange in late 2022, resulting in a market crash that dragged HBAR’s price down to around $0.036. 
The collapse of Silvergate Bank further dampened sentiment, but HBAR eventually gained momentum, forming an “ascending channel” pattern, indicating a potential gradual uptrend with higher highs and lows. Recently, HBAR has found support around the $0.057-0.06 level, with a breach below this potentially indicating a stronger bearish trend. 
HBAR has experienced significant price fluctuations over the years, ranging from steady growth to extreme volatility. While past performance is not indicative of future results, understanding HBAR’s price history provides valuable context for assessing its potential course in the future. 
<h2 class="p1" id="strong-span-class-s1-market-performance-of-hbar-span-strong">Market Performance of HBAR</h2> 
<figure id="attachment_181139" aria-describedby="caption-attachment-181139" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-181139" src="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.13.40.png" alt="HBAR year-to-date market performance chart" width="950" height="520" srcset="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.13.40.png 950w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.13.40-300x164.png 300w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.13.40-768x420.png 768w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.13.40-150x82.png 150w" sizes="(max-width: 950px) 100vw, 950px">
 <figcaption id="caption-attachment-181139" class="wp-caption-text">
 HBAR year-to-date market performance chart
 </figcaption>
</figure> 
Today, the <a href="https://coingape.com/price/hedera-hashgraph/">price of HBAR</a> stands at $0.09443, marking an all-time high for the year, compared to its starting point. This surge in price is accompanied by a significant increase in trading volume, which has risen by 150% over the past 24 hours, reaching $136,978,601. In the same timeframe, HBAR has experienced a notable increase of 10.26%.&nbsp; 
In the current rankings on <a rel="nofollow" href="https://coinmarketcap.com/currencies/hedera/" target="_blank">CoinMarketCap</a>, HBAR holds the 37th position, reflecting its growing prominence in the cryptocurrency market. This surge in price and trading volume has propelled HBAR’s market capitalization to $3,190,561,329, marking an 11% increase in just one day.&nbsp; 
HBAR boasts a circulating supply of 33,678,813,527 coins, with a maximum supply capped at 50,000,000,000 coins. Notably, HBAR reached its all-time high of $0.5701 on September 16, 2021, before experiencing a decrease of 83.31% compared to its current price. 
Over the past week, HBAR has exhibited bullish momentum, with a notable increase of 22% in price. Looking back over the past year, HBAR has seen an overall increase of 6.24%, indicating its steady growth and resilience in the cryptocurrency market. 
<h2 class="p1" id="strong-span-class-s1-technical-analysis-span-strong">Technical Analysis</h2> 
A <a rel="nofollow" href="https://www.tradingview.com/symbols/HBARUSDT/technicals/" target="_blank">detailed</a> technical analysis offers insights into the current sentiment surrounding HBAR. While moving averages suggest a bullish outlook, with prices trading above various moving averages indicating upward momentum, oscillators provide a more detailed perspective. While some indicators signal overbought conditions, others remain neutral, contributing to a mixed sentiment among analysts. 
<figure id="attachment_181146" aria-describedby="caption-attachment-181146" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-181146" src="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.15.39-1.png" alt="HBAR Technical Analysis Chart" width="999" height="524" srcset="https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.15.39-1.png 999w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.15.39-1-300x157.png 300w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.15.39-1-768x403.png 768w, https://coingape.com/wp-content/uploads/2024/02/Screenshot-2024-02-19-at-09.15.39-1-150x79.png 150w" sizes="(max-width: 999px) 100vw, 999px">
 <figcaption id="caption-attachment-181146" class="wp-caption-text">
 HBAR Technical Analysis Chart (Courtesy: IntelligentAsset)
 </figcaption>
</figure> 
In a bullish scenario, key resistance levels to watch are at 0.0967, representing the upper limit channel, followed by 0.1015, which marks a pivot high, and 0.1326. 
On the flip side, in a bearish scenario, crucial support levels include 0.085, aligned with the 800 exponential moving average (EMA), 0.077 associated with the 50 EMA, and 0.0683 linked with the 200 EMA. 
<h2 class="p1" id="strong-span-class-s1-price-prediction-span-strong">Price Prediction</h2> 
Looking ahead, analysts provide varying forecasts for HBAR’s price trajectory. Short-term predictions suggest a potential rise to $0.2 by the end of 2024, driven by ongoing network improvements and market recovery. By 2025, further advancements and market growth could propel HBAR’s value to around $0.33, with long-term projections envisioning highs of approximately $0.7 by 2030. However, these forecasts are subject to market dynamics and technological developments within the ecosystem. 
<h2 class="p1" id="strong-span-class-s1-conclusion-span-strong">Conclusion</h2> 
HBAR’s recent price surge signals a significant milestone for the cryptocurrency, but the sustainability of this rally remains uncertain. While technical indicators provide valuable insights into current market sentiment, predicting future price movements requires careful analysis and consideration of various factors. As HBAR continues its journey within the volatile cryptocurrency landscape, investors and enthusiasts alike will closely monitor its performance, eagerly awaiting further developments and milestones. 
The post <a href="https://coingape.com/blog/hbar-price-hbar-smashed-new-ath-will-the-rally-continue-to-1/">Hbar Price : Hbar Smashed New ATH , Will The Rally Continue To $1 ?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Hbar Price : Hbar Smashed New ATH , Will The Rally Continue To $1 ?

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