The price of the Hedera (HBAR) token sharply increased by approximately 30% on September 28, surpassing the $0.12 level. The token reached $0.12576 on Binance, starting the trading session from around $0.09586. One of the factors contributing to this rise was traders' attention to a recent post linking members of the Hedera Council with NVIDIA's AI security initiative. On this day, the relative strength index (RSI) was 81.03, indicating overbought conditions, as a threshold of 70 is typically accepted. The rise in HBAR was driven by the price breaking through several key levels on the daily chart. Specifically, the token cleared levels of $0.09766, $0.10376, $0.10986, and $0.11597 before moving above the Murrey Math resistance level at $0.12207.
A recent post from Hedera on September 28 marked the presentation of Council members among participants in NVIDIA's Open Agent AI security initiative. This announcement of collaboration sparked renewed interest in the token amid its growth. Although the announcement did not specify a new launch from NVIDIA on the Hedera network or the volume of HBAR transactions, the partnership between the companies exists within the framework of AI oversight work.
According to CoinGlass liquidation charts for 24 hours, the price of HBAR rose from below $0.10 to approximately $0.125. Liquidation levels are distributed above $0.12, with additional levels around $0.126 and $0.127. The most notable remaining liquidation zone is around the $0.108 mark. Other significant clusters are near $0.105 and the $0.10 area. Liquidation data shows the potential liquidation exposure at these prices and does not indicate that the specified positions have already been liquidated. Currently, the trading range for HBAR is defined by the high price of $0.12576 and the levels that were breached during the spike. Holding above $0.12207 will maintain the price at the peak level, while falling below $0.11597 will bring the liquidation cluster closer to $0.108 and the previous resistance area around $0.10.
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