There are hundreds of altcoins in the crypto market. Anyone can decide to create an altcoin and push it to the market. However, not all of them make it and most of them fail. A high percentage of coins are scams, which is why they are ignored and don’t pick up in the medium to long term. Looking at the top 100 coins gives a more reassuring feeling as the lowest has a market capitalization of at least USD 300 million. The technical formation of Hedera price specifically looks quite interesting. That’s why in this article, we’re going to see if Hedera crypto is worth investing in, especially with its current price action.
What is Hedera Crypto?
Hedera is a public distributed database structure designed to handle web-scale applications. The Hedera Governing Council is in charge of its operation and governance. Hedera is the only Protocol that uses hashgraph technology that is fair, quick, and secure. The Protocol’s governing system is completely decentralized. It is made up of roughly 39 term-limited prominent organizations, according to its creators. Developers may also use Hedera’s distributed ledger technology to embed computational trust directly into their apps.
Hedera Price is a Good BUY!
Apart from the interesting fundamentals of the project, Hedera’s current technical formation is an interesting one. Hedera price has been able to form support at $0.087 for the past few weeks. Furthermore, a trend line has been formed heading towards the $0.087 support. Since this cannot go on indefinitely, there will very likely be an outbreak by June 12th. Since the price on the sub-chart has not performed this triangle after a descent, it is not a valid descending triangle. Instead, the chances are currently quite good that the price will break out bullishly. Bitcoin price has already bullishly broken out of an invalid descending triangle, which is why we expect Hedera price to follow suit.
Hedera Price Prediction – Where will Hedera price reach?
The next resistance is around $0.11, so we expect the Hedera price to rally to at least 11 cents. This would register a price increase of about 20%. After that, however, Hedera price could see another dip to the $0.087 support next. A sideways phase would develop, which serves either as a correction or as a bottom formation. So far it is not possible to say what it will be.
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