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The Hedera (HBAR) price has recorded massive volatility over the past few months. The price action has been characterized by prolonged downtrends countered by strong moves north. All the while, the altcoin stayed underneath the $0.1000 psychological level.
Hedera Price Forecast as Network BUIDLs
With rising momentum, indicated by the north-moving Relative Strength Index (RSI), Hedera price is testing the upper boundary of a descending parallel channel. After a substantial 15% breakout on September 13, HBAR faced initial resistance from the 50-day Exponential Moving Average (EMA) at 0.0546. This sent it back into the foothold of the bearish channel. Nevertheless, the momentum indicator remains committed north, suggesting growing momentum.
Steered by increased buying pressure, a strong move north could see the altcoin shatter the 50-day EMA. A decisive close above this level would solidify the uptrend for the short term. In a highly bullish case, Hedera price cold could extend into the supply zone, marked by the 100-day EMA at $0.0630. Such a move would denote a 20% climb above current levels.
A supply zone is an area where massive selling pressure is expected. The fact that it coincides with the 100-day EMA makes it a zone where Hedera price could face strong resistance. If the bullish outlook plays, this would be the area to expect a pullback. Hence, the idea is to take profit for conservative longs to avoid being trapped in the exit liquidity.
On the flip side…
Conversely, a subsequent rejection from the channel’s upper boundary after the 50-day EMA reaction could send the altcoin below the channel’s midline at $0.0451. Notably, a breakdown of this support level could mark the beginning of a new downtrend, considering it coincides with the bottom of the last lower high, as observed in the chart.
In the dire case, the downtrend could see Hedera price break below the channel’s lower boundary at $0.0366. This level was tested last in January.
The growing volumes of the Awesome Oscillator’s histogram bars increase the odds of a downtrend, showing that bears maintain a presence in the market.
Meanwhile, another token is making headlines, signaling even better prospects than HBAR. BTCBSC is the new mania in the crypto scene, offering investors who missed the Bitcoin (BTC) train in 2011 a chance to do things differently this time.
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— Bitcoinbsc (@Bitcoinbsctoken) September 7, 2023
HBAR Alternative
BTCBSC is the ticker for Bitcoin BSC, an ecosystem doing things like Bitcoin, only better. For one, the network offers the same block rewards as BTC while offering a low entry price of $0.99, the same value BTC recorded in 2011.
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— Bitcoinbsc (@Bitcoinbsctoken) September 12, 2023
The project is in the presale phase, recording one of the most striking and successful ones in the history of presales. With almost $2 million raised in presales, BTCBSC is easily one of the most promising projects ever advertised. As of September 13, the project had breached the $1.4 million mark in presale sales. Fast forward JUST ONE DAY, the project is flashing a remarkable $1.777 million. Don’t waste any more time; buy BTCBSC here.
About Bitcoin BSC
Bitcoin BSC is a green BEP-20 version of Bitcoin set atop the BNB Smart Chain. While it draws concepts from Bitcoin, the project is unrelated to BTC. Nevertheless, it is still a fantastic investment, offering holders a good chance for passive income.
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As we merge the value of #Bitcoin with BNB Smart Chain, bringing to you eco-friendly staking for long-term gains.
Join the #Presale, get $BTCBSC, and embrace token-based rewards.💰https://t.co/oM0YP8IlbV #Stake2Earn pic.twitter.com/mXeSDG1E6z
— Bitcoinbsc (@Bitcoinbsctoken) September 11, 2023
As indicated, Staking is one of the primary income earners for BTCBSC holders, besides buying the token early before its value skyrockets. Staking on the Bitcoin BSC ecosystem promotes enduring dedication and community involvement. It also minimizes selling pressure, allowing the project to grow in value. See how high of an APY you get and the remarkable number of BTCBSC tokens staked this far.
Owing to the remarkable community support it is recording, BTCBSC has already attracted bad actors looking to take advantage of its brand. With this, investors are asked to remain cautious, staying wary of fake profiles.
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https://t.co/oM0YP8IlbV pic.twitter.com/JGM3VWCgmW— Bitcoinbsc (@Bitcoinbsctoken) September 13, 2023
Here is how you can buy BTSBSC on presale
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