Hedera Price Forecast as HBAR Shoots Up 8% – $1 Coming Soon?
Hedera (HBAR) is a leading cryptocurrency project focused on creating an energy-efficient layer-1 blockchain fit for enterprise purposes. Now, the price of HBAR has risen by an impressive 8% in a single day. Could this be the momentum needed to push HBAR to $1?
What is Hedera HBAR?
Hedera aims to be the blockchain of the future. While many networks exist, most are either inefficient or insecure. However, Hedera provides investors with a highly secure network that offers low fees, fast settlement time, and excellent throughput.
In addition to its merit as a transactional cryptocurrency, Hedera has smart contract functionality similar to Ethereum. This means that developers can take advantage of the network’s efficiency. With so many developers looking for lower-cost solutions, the Hedera ecosystem has grown significantly since its release, likely helping to bolster the asset’s price.
Hedera HBAR Video Analysis
HBAR has been in a downtrend in line with the wider global markets, consolidating around the $0.056 level in more recent weeks. There have been a few breakout attepts at pulling higher but these have mostly fizzled out rather quickly.
Since mid-September, the price of HBAR had been hovering at around $0.058, with many investors speculating that the asset was consolidating prior to a sharp upward move. Now, it seems that move has arrived. Over the past day, HBAR jumped in value by around 8%, pushing the asset back toward $0.063.
With this level aligning with a key support region for HBAR, we could see some impressive moves coming in the near future. It’s important to note that for HBAR to retain this level, it will need a confirmed daily break above $0.062.
With HBAR trading for just above $0.50 at its peak, the asset could make for an excellent long-term crypto investment. Also, with focus on environmental, social, and governance (ESG) investing increasing sharply each year, we could see HBAR fly past its previous high toward the $1 region within the next year.
This Green Crypto is Gaining Traction
While HBAR is often heralded as one of the most environmentally-friendly cryptocurrencies on the market, it pales in comparison to the offerings from IMPT, a new crypto project aiming to help reduce the world’s carbon emissions by tokenizing credits that equate to offsetting 1 ton of carbon. More details can be found in the IMPT whitepaper.
With the project currently in its phase one presale, there’s no better time to check out IMPT. Join the IMPT Telegram group to stay informed regarding the development of the asset.