Trader known by the nickname Credible, Ethereum competitor Hedera (HBAR) shared their views. The trader stated that HBAR, which lost 93% from its highest level, is focused on the “dollar cost average (DCA)”.
After about 12 months of consolidation, we are back to the starting level of the last move, which increased 12 times. If you’re looking for bullish HBAR, I think this is a great time to DCA.
NEWS CONTINUES BELOW
HBAR is the native token of the Hedera Hashgraph system, which aims to be a faster, more efficient and more secure version of the standard blockchain technology.
HBAR currently has a market cap of just under $1 billion and a maximum supply of 50 billion tokens. Its circulating supply is around 25 billion.
While Hedera has a large max supply compared to the circulating supply, Credible thinks it won’t be a problem when the bull market comes.
This is really not a problem. People just want to rationalize downtrend price action and easily label the blame of ‘bad tokenomics’ for failing to challenge their fundamentals. This argument will not be valid when we start to rise again.
EthereumAlso looking at , Credible set a short-term price target near the $1,400 level. This means an increase of about 16% from the current price.
Last time we lost value and got our local lows, now we want to continue up to target 1. Notice the two equal dip sets we left behind. I hope we’ll be back for these later.
