Hedera (HBAR) Hits New 3-Year Highs
Hedera Hashgraph (HBAR) cryptocurrency has reached a new three-year high of $0.3747 today, a price not seen since November 2021. This performance shows a year-to-date rise of 310.90%, 286.62% over the last six months, and 105.66% in just the past week.
On Friday, the Hedera price continued to increase by 22.64% in the last 24 hours. This makes it one of the best-performing coins in the top 100 of the crypto market today.
HBAR prices have surged recently, leading to many optimistic market predictions. However, the current overbought condition suggests that the price might drop or stabilize before surpassing its 2021 high of $0.5701.
An overbought condition means the price has risen significantly and may exceed its true value. This often shows that there has been strong buying interest for a while, which could lead to a price correction or pullback.
Hedera Hashgraph (HBAR) is currently trading at $0.351, down 2.64% after a sharp increase in the last four hours. The price has risen well above key moving averages, with the 50-day average at $0.11 and the 100-day average at $0.08, indicating strong upward momentum.
The 54% increase in 24-hour trading volume supports this breakout, it also suggests a potential exhaustion phase. With the next resistance level around $0.40, HBAR may face difficulties keeping its current pace.
A price correction toward the $0.30–$0.32 range, close to previous resistance levels, would align with the past price behavior and allow consolidation before moving higher again.
Long-term is bullish for Hedera (HBAR)
The short-term outlook for HBAR prices appears bearish, but the mid-to-long-term predictions are bullish due to strong technicals and fundamentals. Analysts believe that in the mid-term, the price of Hedera could reach a new high of $0.576.
Some analysts are even more optimistic, predicting that Hedera Hashgraph could rise to $4 to $5 in this bull cycle.
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