HBAR’s blockchain solution for carbon emissions
- Hedera Hashgraph is down 90% from all-time highs.
- The Relative Strength Index shows several bullish divergences, accompanied by low volume during the downtrend.
- HBAR releases Hedera Guardian could catalyze a whole new sector in the crypto community.
The price of Hedera Hashgraph could be near the bottom of the market. Key levels have been identified,
HBAR Price Could Be Near Lows
Hedera Hashgraph (HBAR) is a digital asset that investors may want to keep a close eye on. Since September, the smart contract token has had 90% of its market value. The bears saw a steep decline with very little pullback. Still, recent technical indicators show that the bears may be loosening their grip. A strong countertrend rally or true bull run could occur if market conditions persist.
The HBAR price is currently selling at auction at $0.05. The volume profile indicator shows a persistent shrinking effect, suggesting that the downtrend may be weakening. Additionally, the bulls moved back above the support territory on the Relative Strength Index. The staircase-like ascent was a pattern seen on the RSI before sharp crypto rallies occurred. Additionally, there are divergences between recent lows and highs set in July and August.
HBAR USDT 1-Day Chart
The signals come at an interesting time in the market, as Hedera has made significant progress against it in the area of carbon emissions. Readers may recall that the White House issued an executive order earlier this month with concerns about cryptocurrency mining and its effect on carbon emissions. Hedera offers a known solution for energy consumption called Renewable Energy Credit (REC)
According to Hedera
“An REC is a tradable, non-tangible asset representing one megawatt-hour of green energy. RECs allow companies to reduce CO2 emissions related to energy consumption and can be treated as carbon offsets in some cases, although that the two concepts are separate.”
In addition, Hedera provided a vsargood neural ledger where transactions will be made public on the blockchain called A planet.
Hedera Hashgraph positions itself uniquely and differently from all other cryptocurrencies in the space. Perhaps an entirely new sector will surface in the crypto market thanks to their innovative work in climate protection. It’s too early to call now, but combining all of these timely factors, investors should be on the lookout for an HBAR bullrun.
In the following video, our analysts dive into HBAR’s price action, analyzing key levels of interest in the market. -FXStreet Team