HBAR Volatility Analysis for PCE, 29th February 2024

Data Analysis

The data released by Bureau of Economic Analysis for Personal Consumption Expenditures on 29th February, 2024 has come in at an increase to 0.4% for January 2024. Compared to the previous release for December 2023 at 0.2%, we can see that prices & inflation is increasing month over month.

To see the impact and volatility of HBAR's price during the PCE release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 97.005M HBAR with prices swinging between 0.118100 and 0.124100, representing a swing of 4.83%. Subsequently, the trading volume decreased by 13% to 84.072M HBAR. Price action ranged from a low of 0.114600 to a high of 0.121100, a difference of 5.37%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3.589M HBAR in trading volume was observed prior to the data release. Prices ranged between a low of 0.119400 to a high of 0.120100, a 0.58% change. Immediately following, trading volume increased considerably by 66% to 5.97M HBAR. At this time, Hedera hit a low of 0.119800 with a high of 0.121100, a significant change of 1.07%.

About Personal Consumption Expenditures

Personal consumption expenditures (PCE) is a measure of the prices people in the United States pay for goods and services. PCE accounts for about two-thirds of domestic spending and is a significant driver of gross domestic product (GDP). An estimated total of personal consumption expenditures (PCE) is compiled by the Bureau of Economic Analysis as one way to measure and track changes in the prices of consumer goods over time.