honor [HBAR] It was subject to an 8% price increase from $0.055 to $0.608 last week, thanks to a social push from its community. According to LunarCrush, HBAR has had over 200 million social shares, with 44,346 mentions and 418 active contributors.
👉 Statistics: https://t.co/qeGuTbYvL1 pic.twitter.com/CzQqgjWurW
– LunarCrush (LunarCrush) October 8, 2022
Prior to this achievement, HBAR continued its downward trend since September 27, through October 2. For LunarCrush, this may signal the end of its bearish sentiment in the short term. However, other public network metrics at the enterprise level did not share the same views.
Still here to “bear” the consequences
According to Santiment, HBAR . development activities have been embarrassed On October 5, it had fallen from 47.43 to 35.45 at the time of writing. This backtrack open This development around the Hedera network has slowed. For this reason, it was possible that talking about a short-term recovery was not a concrete visualization.
Here is the AMBCrypto price forecast for HBAR 2022-2030
In addition, there was an increase in its volume on October 8. The increase brought the charts to $55.82 million. However, the 51.67% drop in the past 24 hours to $27.10 million wasn’t something to be ashamed of.
The consequences of this were that the HBAR buyers who accumulated earlier are now sold out, while few may have kept their last purchases. Therefore, the sell-off is likely to be responsible for the price reversal to $0.059.
According to NFT performance, HBAR’s last rise to 1 million deals was on October 1. At that time, the total trading volume of NFT was $1.96 million. Since this point was reached, HBAR NFT activities have favored the lower segments of the trend. At the time of publication, the total volume of NFT is $91,800.
During the descent to this level, Hedera Believer Partnership with fund management giant Abrdn. Based on the details, Abrdn has adopted Hedera’s hash graph technology to promote the investment token. On the electoral front, HBAR looked like a cryptocurrency that wasn’t being held.
It was this open From Santiment where the total voting assets ratio fell to 42.07, down from 42.58 recorded on the first day of the month.
Listen to the traders, here’s the update
Interestingly, there appears to be some conflicting indicators on the charts, with most showing that HBAR may not fall in love with bears. As for the Bollinger Bands (BB), HBAR left the lower areas on October 7th and is now showing extreme volatility. As such, there was a possibility that the price would go into a parabola.
Indicators from the Magnificent Oscillator (AO) also showed a continuation of the bullish momentum, given that the Simple Moving Average (SMA) was above the chart. But at 0.001434, AO could also drive HBAR to the bottom of the charts.