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**Hedera (HBAR) Eyes $14B Market Cap Recovery: Key Indicators Signal Rebound**
As the cryptocurrency market continues to experience turmoil, several assets have started to regain momentum. One such asset is Hedera Hashgraph’s native token, HBAR. In a recent update, experts believe that the crypto may be on the cusp of a significant recovery, potentially reaching a $14 billion market capitalization.
**A Look at the Current Market Cap**
At press time, the current market capitalization of HBAR stands at approximately $5.4 billion, which is still far from its all-time high of around $14 billion reached in November 2021. However, recent developments have sparked optimism regarding a potential rebound.
**Recent Price Analysis and Insights**
Our analysis suggests that key indicators may be signaling a reversal in the current downtrend. The following data points are crucial to this assessment:
1. **HBAR’s Daily Chart:** A closer examination of HBAR’s daily chart reveals that it is approaching an area of support around $0.12-$0.13. This level could serve as a catalyst for a potential bounce.
2. **HBAR’s 200-DMA:** As you can see in the chart below, the asset has recently crossed above its 200-day moving average (DMA). The crossover is not only encouraging but also a clear indication that institutional investors are starting to take notice.
**Chart: HBAR Daily Chart**
3. **HBAR’s RSI and Stochastic Oscillator:** The Relative Strength Index (RSI) and Stochastic Oscillator are both trending upward, indicating increased buying pressure. This trend could eventually trigger the next wave of accumulation.
4. **HBAR Whale Activity:** Whales have been increasingly involved in HBAR transactions over the past few weeks, which may indicate a change in sentiment towards the asset.
**Conclusion**
With these key indicators aligning, there is a growing possibility that HBAR will continue its upward trajectory. Our analysis suggests that this could be an ideal time to accumulate the asset, as it approaches a critical support level. However, please remember that cryptocurrency markets are inherently volatile and can change quickly.
We do not provide investment advice. We encourage you to conduct your own research and consult with financial advisors before making any investment decisions.
Source: www.crypto-news-flash.com
