HBAR Price Analysis: Trades in a Tight Range, Hedera Donates $1 Million in HBARs to Peace Efforts

• At the time of publication, Hedera was trading in a tight range at $0.205
• Hedera is up 3.19% in the last 24 hours
• Hedera announced it has donated nearly $1 million in Hbars to Ukraine’s peace efforts

Hedera is a distributed ledger of transactions using a new consensus algorithm known as hashgraph to process more transactions at scale than proof-of-work and proof-of-stake networks. At the time of publication, Hedera was trading in a tight range at $0.205, up 3.19% in the last 24 hours. Hedera announced it has donated nearly $1 million in Hbars to Ukraine’s peace efforts. In the past week, the HBAR Foundation, which drives the development of the Hedera network by providing grants and resources to developers announced the launch of a $100 million fund for sustainable ventures. The Sustainable Impact Fund aims to invest in Hedera-based solutions that involve carbon emissions, offsets, and removals, as well as other nature-based projects, the foundation said in a release.

Key Levels
Resistance Levels: $0.3000, $0.2500, $0.2167
Support Levels: $0.1861, $0.1500, $0.1350

HBAR/USD Daily Chart: Ranging

HBAR/USD Daily Chart

HBAR has been trading in a sideways range between $0.193 and $0.235 for almost the entire month of March, unable to choose a further direction. Since the last days of February, there has been a solid support line on the declines near $0.19. That said, the short-term bias has not switched to the bullish side yet, according to the momentum indicators.

The RSI has slipped below its 50 neutral mark, though marginally. Should the price successfully return above the MA 50 at $0.224, sustaining strength above the $0.23-$0.26 as well, the next barricade could emerge around the MA 200 at $0.307. Alternatively, a pullback below the $0.19 level could press the price next at $0.18.

HBAR/USD 4-Hour Chart: Ranging

HBAR/USD 4-Hour Chart

HBAR edged higher from lows of $0.193 on Mar. 16. This appreciation was stopped by the $0.209 level which increased considerably downside pressure on the pair. Providing the $0.209 level continues to cap upside attempts, initial support could arise from the $0.204 level before the $0.195 and $0.193 levels.

Alternatively, should buyers jump the price over the $0.209 level, resistance could originate from the MA 200 at the $0.218 level, ahead of the major barrier at $0.266. To summarize, HBAR/USD is trading in a tight range and a close either above $0.21 or below $0.18 would reveal an established direction.

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