Hedera (HBAR) Price Increase Is Unstoppable, Could It Reach $0.2 Dollars?

Bittime -The price of Hedera Hashgraph's native token, HBAR, skyrocketed 100% on April 24 to touch $0.18 dollar. This price increase follows the announcement by financial giant BlackRock that it will use the Hedera blockchain to tokenize their money market funds.

BlackRock Triggers Hedera (HBAR) Price IncreaseIn the latest development in the real world assets (RWA) sector, Archax, a London-based digital asset exchange, has successfully tokenized the BlackRock ICS US Treasury Money Market Fund (MMF) on the Hedera (HBAR) blockchain.

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This achievement was realized through collaboration between Archax, HBAR Foundation, and Ownera, an institutional-class digital asset platform. This incident is similar to the successful tokenization of MMF by abrdn, the UK's largest active wealth manager, on the Hedera blockchain last year. This step further emphasizes the importance of Hedera in the crypto world.

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News of this collaboration sparked strong positive sentiment for Hedera (HBAR). HBAR's daily trading volume jumped drastically by 5,440% to $2.3 billion dollars. This price increase is also the first time in the last two years that HBAR has exceeded the $0.15 dollar mark. If this momentum continues, HBAR prices have the potential to return to near historical highs.

HBAR Price Prediction: Will It Surpass $0.2 Dollar Soon?Even though the HBAR price has jumped 100%, the Relative Strength Index (RSI) indicator still shows room for further price increases. Currently, the HBAR RSI is still below the threshold of 60, which indicates that the market is not yet saturated.

With the potential for further upside, HBAR, which had reached a daily high of $0.1817 dollars, is predicted to surpass psychological targets such as $0.2000 dollars or even $0.3000 dollars in an extreme bullish scenario. However, the trajectory of this price movement is very dependent on the control of profit taking among HBAR investors (HBAR bulls).

Conclusion:

The collaboration between BlackRock and Hedera Hashgraph triggered a significant increase in the price of HBAR. This positive momentum opens up opportunities for HBAR to surpass the $0.2 dollar level, but this depends on investors' ability to resist profit-taking.

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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.

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