Hedera (
$HBAR ) has been on a bullish streak, gaining significant traction in the past few days. Hereโs what you need to know about HBARโs price action and its potential for a breakout.
๐ HBAR's Recent Rally and Key Metrics
Price Movement: HBAR surged 33% in just three days, rebounding from a correction phase.Trading Volume: A 60% increase in 24-hour volume to $2.02 billion indicates strong market interest.Current Price: At press time, HBAR traded at $0.311, with a market cap of $11.09 billion.
After defending the 20-day EMA, HBAR has triggered a bullish rally, breaking out from a falling wedge pattern.
๐ Can HBAR Sustain Its Breakout?
According to analysts from World of Chart, HBAR recently broke out of a bullish flag pattern on the 4-hour time frame following two weeks of consolidation.
Key Scenarios:
Bullish Outlook:A. HBAR holds above the 20-day EMA, it could invite more buyers, potentially driving gains of 40-50% in the coming months.B. Positive MACD and Signal lines and green histograms support a bullish continuation.Bearish Risk:If the breakout fails and HBAR drops below the 20-day EMA, bearish momentum may trigger profit-taking, leading to heavy selling pressure.
๐ Technical Patterns and Predictions
Falling Wedge Pattern: HBARโs breakout from this pattern signals strong bullish momentum.Historical Trend: Since November, HBAR has advanced by a massive 660%, showcasing its ability to recover quickly after corrections.
๐ฎ Whatโs Next for HBAR?
With a potential for a 40-50% price increase, HBAR is a token to watch as it navigates critical support and resistance levels.
Key Levels:
Support: $0.290Resistance: $0.350
Investors should monitor market sentiment and broader crypto trends to capitalize on potential gains or manage downside risks.
๐ Investor Takeaway
HBAR's breakout from key patterns and strong trading volume signal a promising bullish trend. However, sustaining this momentum is essential to avoid bearish traps.
Will HBAR hit a 40% gain soon, or will bearish forces take over? Share your thoughts below!
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