HBAR, the native token of the Hedera ecosystem, is one of the best performing cryptocurrencies over the past 24 hours.
HBAR is outperforming the broader cryptocurrency market after adding more than 6% to its value to date.
The broader crypto market is retreating after starting the week on a positive note. The overall cryptocurrency market remains above $1 trillion despite losing less than 1% of its value over the past 24 hours.
Bitcoin remains in the green zone and is trading above $22k per coin. The world’s leading cryptocurrency by market cap has gained less than 1% in its value today.
Ether continues to perform despite the close of the merge. ETH is down more than 2% today and is trading near $1,720 per coin.
HBAR, the native token of the Hedera ecosystem, is one of the best performers among the top 100 cryptocurrencies by market cap. HBAR has increased its value by over 6% in the last 24 hours, outperforming the broader crypto market.
The positive performance comes after one of the world’s leading crypto exchanges, Coinbase, announced its support for HBAR.
Coinbase will add support for Hedera (HBAR) on the Hedera network. Do not send this asset to other networks or your money may be lost. Incoming transfers to this property are available on @ coinbase And @CoinbaseExch In areas where trade is supported.
— Coinbase Assets (@CoinbaseAssets) 12 September 2022
prime level to watch
HBAR/USD 4 hour chart is bullish as the local coin of Hedera is performing well over the past 24 hours. Technical indicators suggest that HBAR is currently outperforming the broader crypto market.
The MACD line crossed the positive line over the weekend and remains there, indicating a bullish trend for HBAR.
The 14-day Relative Strength Index of 62 suggests that HBAR is moving closer to the overbought zone of the market.
As of press time, HBAR is trading at $0.0683 per coin. If the bulls remain in control, HBAR is likely to cross the first major resistance at $0.0735 before the end of the day.
If the broader market corrects, it could propel HBAR above the $0.081 resistance point for the first time since August.
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