The price of Hedera ($HBAR
) has jumped sharply. The cryptocurrency has risen in price by 32% in the last 24 hours and by more than 160% in a week. The ADX indicates a strengthening trend, and the Ichimoku cloud confirms the bullish momentum
The dynamics of the HBAR price hints at a possible further increase. Resistance levels are at $0.14 and $0.182. However, if the uptrend weakens, the support zones at the levels of $0.098 and $0.068 will play a key role in determining the future direction of the HBAR.
Why is HBAR growing?
The cryptocurrency is getting more expensive on the news that Canary Capital has applied to launch an ETF for Hedera (HBAR). The instrument, if approved by the U.S. Securities and Exchange Commission (SEC), will open a channel for investment inflows that can support the growth of the cryptocurrency exchange rate.
Donald Trump, who won the US presidential election, promises to reduce regulatory pressure on the crypto industry. In particular, he plans to fire the current head of the SEC, Gary Gensler, whose repression turned into heavy losses for the digital asset market.
With regulatory pressure decreasing, the Hedera ETF (HBAR) has every chance of approval.
Hedera Forecast (HBAR)
The prospects for further growth are open to the cryptocurrency. We tell you which signals indicate the probability of Hedera (HBAR) moving to new peaks.
HBAR Price Forecast
If the current uptrend continues, the HBAR could reach its nearest strong support at $0.14, which would be the highest price since March. Overcoming this level may open the way to further growth, possibly up to $0.182, which will increase the cost by 54% from current figures.
The optimistic scenario is confirmed by the strong momentum shown by the latest technical analyses.
On the other hand, if the trend changes, the HBAR may roll back to the first support at $0.098. If this level does not hold, the price may drop to $0.068.