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Hard Protocol Breakout Analysis – HARD Gains +21% in a Day on Binance Launchpad
After the launch of Hard Protocol on Binance Launchpad, HARD was trading sideways with strong buying volume and took a breakout today with +21% gains. Let’s take a quick look at HARD, price analysis, and possible reasons for the recent breakout.
What is Hard Protocol?
HARD Protocol is a decentralized money market built on Kava, enabling the lending and borrowing of cross-chain assets. HARD Protocol supports supply-side deposits for BTC, XRP, BNB, BUSD, and USDX. The platform will allow overcollateralized borrowing for supported assets.
HARD Quick Stats
| SYMBOL: | HARD |
| Global rank: | 289 |
| Market cap: | $43,643,209 AUD |
| Current price: | $1.23 AUD |
| All-time high price: | $1.59 AUD |
| 1 day: | +21.2% |
| 7 day: | +56.7% |
| 1 year: | +78.3% |
HARD Price Analysis
At the time of writing, HARD is ranked 289th cryptocurrency globally and the current price is $1.23 AUD with an All-time +78.3% increase since the launch of its ICO at Binance Launchpad. Have a look at the chart below for price analysis.
After the launch of HARD on Binance Launchpad, It pumped up to $3.95 AUD having +296% gains in just a few hours and the initial opening price of HARD was $0.83 AUD at Binance Exchange with many different trading pairs like HARD/BTC, HARD/BUSD, and HARD/USDT.
Currently, HARD is trading at $1.23 AUD price levels after breaking out the falling wedge pattern in its sideways trend & now HARD is heading towards its all-time high price facing some previous weekly resistances.
What do the technical indicators say?
The HARD TradingView indicators (on the 1 day) mainly indicate HARD as a strong buy, except the Oscillators which indicate HARD as a buy.
So Why did HARD Breakout?
After the opening at Binance Launchpad, mostly ICO’s pumps after going live on exchange for trade and, the recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. It could also be contributed to some recent news of Hard Margin Trading on Binance.
Recent HARD News & Events:
- 30 Oct 2020 – Rebranding of Harvest.io
- 02 Nov 2020 – Hard Protocol – Binance Research
- 21 Dec 2020 – Hard Protocol Yield
- 09 Dec 2020 – Hard Protocol Features in Forbes Crypto
Where to Buy or Trade HARD?
Hard Protocol has the highest liquidity on Binance Exchange so that would help for trading HARD/USDT or HARD/BTC pairs. However, you can also buy from other different exchanges listed in Coinmarketcap.
Author
Malik Junaid
Malik is a skilled writer with a background in Software Engineering. His interests are blockchain, cryptocurrency trading and market analysis.
