HBAR’s blockchain solution for carbon emissions

• Hedera Hashgraph is down 90% since all-time highs.
• The Relative Strength Index shows several bullish divergences, accompanied by low volume during the downtrend.
• HBAR releases Hedera Guardian could catalyze a whole new sector of the crypto community.

The Hedera Hashgraph price may be near a market bottom. Key levels are identified,

The HBAR price may be near the bottom

Hedera Hashgraph (HBAR) is a digital asset that investors may want to keep an eye on. Since September, the smart contract token has had 90% of its market value. The bears have had a steep falling rally with very few pullbacks. Nevertheless, recent technical indicators show that the bears can loosen their grip. A strong countertrend rally or true bull run could result if market conditions persist.

The HBAR price is currently auctioning at $0.05. The volume profile indicator shows a sustained tapering effect, which suggests that the downtrend may weaken. In addition, the bulls have nested back above supportive territory on the Relative Strength Index. The stair-like ascent has been a pattern seen on the RSI before sharp crypto rallies occur. In addition, there are differences between recent and higher lows established in July and August.

HBAR USDT 1-Day Chart

The signals come at an interesting time in the market as Hedera has made significant progress towards it in the carbon emission sphere. Readers may recall that the White House issued an order earlier this month with concerns about cryptocurrency mining and its effect on carbon emissions. Hedera proposes a solution known for energy consumption called Renewable Energy Credit (REC)

According to Hedera

“A REC is a tradable, intangible asset that represents one megawatt-hour of green energy. RECs allow companies to reduce CO2 emissions from energy use and can be treated as carbon offsets in some cases, although the two concepts are separate. ”

Furthermore, Hedera has delivered one cyearbon neureal ledger where transactions will be made public on the blockchain called A planet.

Hedera Hashgraph positions itself uniquely differently from all other cryptocurrencies in the space. Perhaps a whole new sector of the crypto market will emerge from their innovative work in climate protection. It’s too early to call now, but combining all these timely factors, investors should be on the lookout for an HBAR bullrun.

In the following video, our analysts dive deep into the price action of HBAR, analyzing key levels of interest in the market. -FXStreet Team