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Hedera (HBAR) has seen a huge amount of activity in the past 14 months, compared to the same time period prior to 2021. After being launched in September 2019 with a price of $0.087, the token immediately dropped to $0.028. Over the next several months, it kept dropping further down, until it finally reached the bottom at $0.010 in January 2020.
As the year started by bringing a price surge to cryptocurrencies in February, HBAR used this opportunity to grow to $0.068, after which it dropped to $0.036 by the end of February. It started growing once again in March 2020, which was cut short two weeks later when the COVID-19 pandemic caused the global economic meltdown, and HBAR once again found itself dropping, this time to $0.030.
After that, it spent some time fluctuating between this support and a resistance at $0.035, eventually managing to breach it and go slightly higher, reaching its peak at $0.055 in mid-August.
Then, it once again dropped to $0.30, which is where it remained for the most part of the second half of 2020.
Hedera price in 2021
Things changed for Hedera in 2021, as the crypto price rally pushed the market up, HBAR price immediately skyrocketed. The coin went from $0.032 on January 1st to $0.082 on January 31st. It hit a resistance at $0.15 around February 18th, which actually caused a brief rejection, before the coin started surging again in early March.
By March 15th, HBAR's price skyrocketed to $0.40, which proved to be a rather strong resistance level. Hedera's price was rejected to $0.30 from it, only to surge again and reach $0.40 for the second time in the final days of March 2021. The price was rejected once more, and once again, it dropped to a support at $0.30. For the third time, Hedera's price tried to surge past $0.40, and this time, it nearly broke the resistance.
However, the resistance managed to hold, and the price was rejected after all. This time, the drop was a bit stronger, and so the support at $0.30 did not manage to hold it from sinking. HBAR found a new support at $0.25, from where it bounced back up towards 0.35. It did not reach this level, as it became a new strong resistance that rejected it once again to $0.25.
The price kept trying to go back up until mid-May, when the crypto market prices crashed, robbing most coins of 50% of their value in the first wave, and then more as summer dragged off. HBAR performed like most of the crypto sector, crashing from $0.35 to $0.20 initially, and dropping to $0.15 by July 20th.
An ATH and the drop
On this date, however, a new surge started which took HBAR back up, slowly at first, but then faster and faster until the coin hit its all-time high at $0.5059 on September 15th. After that, the coin once again crashed to $0.30, and it spent the next few months trying to go back up, fighting several strong resistances, until it finally reached $0.45 at the peak of the November surge.
That was as far as it managed to go, as its price got swept away by the bearish wave after that, going down to $0.25 by December 13th. Hedera finished the year with a price at $0.29, trying to breach the resistance at $30.
The coin was successful at doing it in early 2022, however, even managing to surge to $0.33 by January 5th. After this day, the bears returned to the crypto industry, taking HBAR's price down to $0.26, which served as a strong support for the first three weeks of January. After January 21st, however, the support broke and HBAR dropped to its new YTD bottom at $0.18.
In early February, the price managed to recover to a resistance at $0.20, which has held ever since February 5th, not allowing Hedera to move past it, despite weeks of trying.
The coin made its last attempt only days ago, on February 17th, after which it got rejected to $0.22, which is where it sits at the time of writing.
To learn more about this token visit our Investing in Hedera guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.