HBAR Price Rises 4% Amid Hedera Network Surge, Tests Key Resistance

• HBAR price advances 4% amid sharp increases in Hedera transactions and new accounts.

• Short-term charts indicate cautious bullish momentum consolidating between $0.108 and $0.116.

• On-chain data reveals 72.9% new account growth, 4.6 million holders, and TVL at $67.1 million.

HBAR price surges 4% on Hedera network boom: TPS up, accounts +73%, holders 4.6M. Technical analysis & metrics explained. Explore outlook now!

What is driving the recent HBAR price rise?

HBAR price has climbed 4% in the past day, propelled by accelerating activity on the Hedera network across testnet and mainnet. This uptick aligns with key on-chain metrics showing heightened transactions per second, surging new account creation, and steady increases in total value locked. Traders are watching for a breakout above the $0.118 resistance level to confirm further gains.

How is Hedera network activity influencing HBAR price?

Hedera’s network has seen testnet TPS climb to 44, signaling robust developer testing, while mainnet TPS touched 100 recently, reflecting real-world usage in DeFi and other applications. New accounts spiked to 2,620 daily, a 72.9% increase from the previous period, with associated transaction volumes also rising. These metrics indicate active user participation rather than mere accumulation. Total HBAR holders now number around 4.6 million, and network TVL has grown 2% to $67.1 million, per on-chain data trackers. Such developments provide a solid foundation for the HBAR price recovery, though Stochastic RSI approaching overbought suggests caution. Sustained activity could push toward higher targets if resistance holds.

Technical analysis from CryptoPulse on X highlights the critical $0.118 neckline. A daily close above this could unlock upside to $0.124, $0.13, and potentially $0.14, with momentum indicators gaining strength. However, failure to hold may cap gains near current consolidation levels.

Frequently Asked Questions

What are the key HBAR price targets amid Hedera network growth?

Short-term HBAR price targets include $0.124 and $0.13 upon breaking $0.118 resistance, per chart patterns. A stretch goal sits at $0.14 if momentum persists. On-chain surges in TPS and accounts support this outlook, though broader market conditions play a role.

Is Hedera’s on-chain activity sustainable for HBAR price recovery?

Yes, Hedera’s rising TPS on testnet and mainnet, plus 72.9% new account growth to 2,620 and TVL at $67.1 million, indicate genuine expansion. Holder growth to 4.6 million reinforces engagement, making it a positive signal for HBAR price over the medium term.

Insights from Steph is Crypto on X point to an imminent bullish MACD crossover on the 3-day chart, adding to evidence of improving sentiment despite longer-term challenges.

Key Takeaways

• HBAR price up 4%: Driven by Hedera testnet TPS at 44 and mainnet at 100, plus new accounts surging 72.9%.
• Technical consolidation: Between $0.108-$0.116, eyeing $0.118 breakout for targets up to $0.14.
• On-chain strength: 4.6M holders and $67.1M TVL signal sustained growth; monitor for reversal confirmation.

Conclusion

The HBAR price 4% rise reflects strengthening Hedera network activity, from elevated TPS and new accounts to growing TVL and holders. Short-term bullish signals contrast with cautious longer-term charts, requiring a $0.118 break for higher targets. As on-chain metrics evolve, investors should track resistance tests and broader market trends for optimal positioning in this developing recovery.