Hedera (HBAR) is showing a strong bullish trend, with an increase of over 840% from the low after the breakout, bringing it close to the target of $0.504. Here are the highlights and deeper analysis:
Impressive growth supported by high trading volume
• 840% increase: HBAR has seen a breakout increase after a consolidation period lasting from mid-2022 to early 2023. This breakout creates momentum for the current bullish trend.
• High trading volume: Support from high trading volume indicates significant market momentum and strong interest from investors.
Price structure and next resistance
• Target of $0.504: Although HBAR has risen sharply, it is still about 69% away from the important target of $0.504.
• Clear resistance and support: The current price levels reflect a tight price structure, creating opportunities for further advances if the volume is maintained.
Market sentiment
• Stable funding rate: According to data from Coinglass, the funding rate fluctuates slightly around positive and negative values, reflecting a balance between buyers and sellers in the derivatives market.
• December 19, 2024: Price $HBAR at $0.27 with a funding rate of 0.0105%, indicating a neutral but potentially positive sentiment.
Technical assessment
• Additional growth potential: With the current price increase, HBAR has the potential to continue reaching the target of $0.504, especially if the fundamentals and trading volume remain stable.
• Adjustment risk: If the volume decreases or faces strong resistance, the price may adjust before continuing its upward trend.
In summary, Hedera is in a strong recovery phase with significant potential in the short term. Investors need to closely monitor trading volume and market reactions as the price approaches important resistance levels.