HBAR Price Analysis: Hedera Sees Positive Sentiment on Listing News, Dubai Launches Global Digital Vault on Hedera

• Hedera is seeing positive sentiment
• At the time of publication, HBAR was changing hands at $0.0622, up 2.06% at the time of posting and 7% on the weekly per CoinMarketCap data
• The Dubai International Financial Centre (DIFC) Courts has launched a global digital vault called Tejouri which utilizes Hedera DLT

Hedera is seeing positive sentiment following the news of listing on coinbase and that of adoption by the Dubai government. At the time of publication, HBAR was changing hands at $0.0622, up 2.06% at the time of posting and 7% on the weekly per CoinMarketCap data. The Dubai International Financial Centre (DIFC) Courts has launched a global digital vault called Tejouri which utilizes Hedera DLT to provide proof of ownership to users’ data stored in the secure and private cloud. This unique platform functions simultaneously as a cloud vault and an online safe for data. The vault enables the upload and secure storing of documents ranging from insurance contracts, title deeds, wills, and financial certificates, to images and multimedia files and can be utilized by all individuals globally. Tejouri ensures the transmission of an entire portfolio to designated stakeholders at a key time. Access to all data is restricted to the ‘vault holder’ and the listed intended recipients, guaranteeing zero-knowledge-proof privacy principles. Coinbase has also reenabled Hedera deposits and withdrawals as trading is set to begin on October 13.

Key Levels
Resistance Levels: $0.0850, $0.0725, $0.0650
Support Levels: $0.0561, $0.0500, $0.0481

HBAR/USD Daily Chart: Ranging

HBAR/USD Daily Chart

HBAR/USD is falling after rising in value the prior day to $0.0674, both on the daily and from the day’s beginning the pair went from positive to negative. Hedera Hashgraph has been consolidating above $0.0561 since the beginning of September 2022, and further upside is still unbounded. A bullish surge past the $0.0650 pathway will usher in price toward its next significant barrier at $0.0725.

If this area is successfully crossed, the rebound could reach near the daily moving average (MA 200) around $0.0980. This level might slow the upward thrust down just as much as it did earlier. A bearish-biased consolidation pattern in which sellers might trade below $0.0650 and retry the support levels of $0.0561 and below may be set off by HBAR/USD if that doesn’t happen.

HBAR/USD 4-Hour Chart: Ranging

HBAR/USD 4-Hour Chart

After a strong recovery past the level of $0.0650 on the prior day, HBAR is still holding below the level of $0.0650 near-term resistance, indicating a ranging intraday bias. HBAR/USD bulls may need to drive the price back above the $0.0650 resistance level to entice buyers to keep purchasing Hedera from its recent high of $0.0674.

The HBAR/USD pair may revert to the support zone at the $0.0561 level unless buyers sustain momentum above the level of $0.0600. The pair may turn bullish only after trading above the $0.0650 mark; the main resistance levels are at $0.0680 and $0.0725, respectively. Sellers may test the support levels of $0.0561 and $0.0500 if the pair trades below $0.0600.

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