HBAR coin is the native coin of the Hedera Hashgraph network.
The network supports smart contracts, NFTs, and decentralized file storage.
It also offers super-fast transaction rates at low prices.
What is HBAR coin?
HBAR coin is the native currency of the Hedera Hashgraph network. The network is a platform where individuals and businesses can access advanced dApps.
Hedera Hashgraph, in contrast to typical cryptocurrency platforms, isn’t based on a traditional blockchain. Instead, it operates on a new distributed ledger technology called a Hashgraph. On this platform, transactions cost an average of $0.0001 USD and are completed in less than five seconds.
The platform also supports the minting of NFTs, decentralized file storage, and smart contracts. At the time of writing, it is the 36th most valuable crypto asset, with a market capitalization of $5.9 billion.
Is HBAR coin a good investment?
A look at the performance metrics of the HBAR coin tells us that the token is a good investment. At its current price, it is approximately 1,219% higher than its position a year ago. The asset recorded its all-time low price of $0.0100 in January 2020, meaning that it has remained relatively stable during the recent crypto market crashes.
The asset is currently above its all-time low by 3,883% and hit its all all-time high price of $0.5701 about a month ago. It has also performed well this year. If you had bought $100 worth of HBAR coin on January 1st, 2021, and held on to it, that investment would have grown by to $1,100 today. Therefore, based on its historical performance, the HBAR coin is definitely a good investment.
Should I invest in HBAR coin today?
Since the start of the year 2021, HBAR coin price has been rising at an average monthly rate of 42.42% between January and September. This is a good growth rate that could be quite profitable if sustained going forward.
From the weekly price chart below, we can see that the MACD line has been above the signal line since late August, indicating that the market is currently bullish on the HBAR coin. Therefore, this signals that the asset’s price is likely to continue rising in the near term. Based on this assessment, it would be a good idea to invest in HBAR coin today.
Technical analysis for CRYPTO: HBAR
Best case scenario
HBAR coin has been trending upwards since the week began, and the 10-EMA has recently crossed the 20-EMA. This shows that the market momentum is still strong and could support further gains. The HBARUSD pair has formed a symmetrical triangle pattern, and this shows that the trajectory could head either way. If the bulls create a stronger momentum, the HBAR coin could move up to encounter resistance at $0.4289 on the upper end of the triangle.
Worst case scenario:
The RSI is at 58, but the indicator line seems to be flattening. This signals a possibility of weakening momentum. If the momentum weakens, the bears could pull the price down to the first support at $0.3732 and the second support level at $0.3407. Beyond that point, the HBAR coin could slip down further to find support at $0.3034 at the triangle’s lower end.
Will HBAR coin hit $1 in a year?
As discussed above, the HBAR coin has been growing at an average rate of 42.42% per month between January and September 2021. Assuming that it will sustain that rate for the next year, it could rise to $0.61 by October 2022. However, considering that the current price is about 30% lower than the ATH, the token could hit a maximum price of $0.79 in the next year.
What is the HBAR coin price prediction for 2025?
Working with the average monthly growth rate of $42.42 over the next four years, the HBAR coin could be worth $2.21 in October 2025. However, if we incorporate the 30% divergence between the current price and the ATH, it means that the asset could rise to a maximum of $2.87 in the next four years.
The best way to buy HBAR coin
If you want to buy HBAR coin, you can get it at Bittrex, Binance, Okex, Kucoin, Huobi Global, and Eightcap. Most exchanges trade it for USD and USD Tether.