Hedera Hashgraph (HBAR) continues to trade in tight-fought consolidation above the 200DMA, but with two-failed tests at resistance, many are now saying ‘Hedera is going to zero’ – find out in this HBAR price analysis.
This comes following strong performance for HBAR, which exploded +20% last week in the wake of the announcement that FedNow will be integrating Hedera via the Dropp dApp.
The integration news comes amid a wave of project growth for the Hedera ecosystem, with big names like Kia, Hyundai, and Microsoft all making significant partnerships in recent weeks.
However, the FedNow integration remains particularly significant as it marks the first formal connection between Hedera and the Federal Reserve.
HBAR Price Analysis: Is Hedera Going to Zero Amid Price Tumble?
As Hedera struggles against tough resistance, HBAR is trading at a current price of $0.063 (a 24-hour change of +3.26%).
Following an impressive +90% rally since June 10, which saw HBAR push-up from rock-bottom price levels around $0.04 to reach a local high of $0.075.
However, rejection from the upper trendline has triggered a thumping -17% retracement move, leaving price action reeling in a battle to establish consolidation above the 200DMA.
The 200DMA has become critical to price action, forming a long-standing capstone of resistance from the start of May until August 14 – failure to build support here could have devastating consequences for price action.
Indeed, the importance of this level has been deepened by the incoming convergence of the ascendant 20DMA – with $0.06 now forming the key support level to watch.
Indicators provide little relief, with Hedera’s RSI still showing bearish divergence with an over-sold signal at 56.98.
While the MACD has been slowing, to showcase extremely marginal bullish divergence at 0.0001.
Overall, this leaves HBAR in a precarious position – with a well-defended consolidation forming the lynchpin of rally survival.
To the upside, HBAR continues to target the local high at $0.075 ( a possible +19.62%).
On the downside, HBAR is facing a possible plummet down to $0.046 ( a possible -26.63% move) if price action breaks down.
This leaves Hedera with a risk: reward ratio of 0.74 – a bleak outlook dominated by the threat of downside risk on the short-time frame.
Yet, while the Hedera pump seems to be slowing down, smart money have already rotated their gains into the next moon-shot sensation: meet Sonik coin.
Sonik Coin Surges in Attempt at $100M Market Cap Super-Shot
Sonik Coin ($SONIK), which is not only making waves in crypto markets, but also racing – with the audacious goal of being the fastest token to hit the $100M market cap.
And given the current trajectory, this aspiration may soon be a reality – as this rockstar presale has surged to a jaw-dropping +$250,000 raised in less than a week.
But what has got markets so excited about the unlikely Sonik coin? The answer is in the APY – lets dig down into this further.
Sonik Presale ‘Gotta Go Fast’ as Smart Money Angle for Huge Staking APY
An intriguing 50% of the mammoth 300 billion $SONIK supply has been allocated for early investors, making it a limited-time golden opportunity.
With each token priced at a meager $0.000014, enthusiasts have the perfect entry point, especially before its much-anticipated debut on Uniswap post-presale.
This decentralized exchange is a powerhouse, and $SONIK’s presence there will undoubtedly amplify its visibility manifold.
But Sonik Coin is more than just another meme coin, the staking APY of an astounding 4,300% speaks volumes about its potential returns.
Staking not only adds an avenue for passive income, but its inclusion also showcases the team’s commitment to longevity and stability.
The idea? By staking, holders are encouraged to hold onto their tokens for more extended periods, thus mitigating volatile price swings and cementing a firm foundation for steady growth.
Now, let’s talk about $PEPE, Pepecoin’s astronomic growth—delivering jaw-dropping returns of over 10,000% to early backers— has set the precedent.
Given $SONIK’s innovative staking model and the infectious enthusiasm around its branding (a nod to the ever-popular Sonic the Hedgehog), it’s poised for a similar, if not more impressive, trajectory.
The transparent, community-centric vision of the Sonik Coin’s founders, paired with its tantalizing staking rewards and the buzz it has already generated, sets it apart in a sea of meme coins.
Check out the Sonik Telegram and Twitter here.
If history and market patterns tell us anything, the early bird catches the worm. Or in this case, rides the supersonic wave.
Buy Sonik Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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