Hedera (HBAR) Shows Bullish Rally After Double Bottom Formation.

• HBAR is moving towards the $0.075 to $0.1357 resistance levels.
• This is due to the bullish reversal after the formation of double bottom that led to increased buying pressure.
• HBAR bearish prediction is $0.053.

Hedera (HBAR) has shown that it is worth investing in after topping the gainers chart among the top 40 cryptocurrencies in market capitalization. It is presently trading at $0.06442 which represents a gain of 10.03% in the past 24 hours. Although it is ranked in the 37th position in CoinMarketCap, it has shown that it could topple other cryptocurrencies in position soon. Its trading volume is $152,340,247 which represents 275.74% increase within one day.

HBAR/USDT 1Day Chart Showing the Key Levels and The RSI Indicator (Source: Tradingview)

The chart above shows Hedera (HBAR) is on a bullish reversal ?after forming a double bottom at $0.053 support level.?The blue arrow indicates that the present bullish run as a result of buyers pressure is strong. This has resulted to its present RSI value of 62.29 which indicates a strong trend since it lies between 50 and 70.

This pressure could be sustained till the price of Hedera (HBAR) hits the $0.075 resistance1 level or even higher to $0.1357 resistance3 level.

The volatility of crypto might lead to a panic sell by retail investors which could make the price to crash to $0.053 support level or even lower.

In conclusion, the price of HBAR could surge further if the buyers pressure is sustained till it hits the RSI overbought region of 70.