$HBAR HBAR explodes: After a 60% jump yesterday and an impressive 185% in the last week, bullish signals in the weekly chart indicate further upward potential. Currently at $0.15, HBAR is targeting $0.26 to $0.38 in the short term - and even a massive 1,300% profit opportunity in the long term!
Chart analysis on Hedera Hashgraph (HBAR)
The token of the Hedera Hashgraph blockchain (HBAR) has lost over 77 percent in value since April 2024. However, on October 28, 2024, the token found a bottom at around $0.04.
Today the price is again around $0.15. That is a price increase of over 260 percent in just 3 weeks. How the token price could evolve further will be explained in our detailed chart analysis.
The HBAR price briefly slipped below the last support area without breaking it sustainably on a weekly basis and has since surged rapidly.
Currently, the token price is on the verge of breaking out of the next resistance area upwards. If successful, the next resistance area could be reached between $0.26 to $0.38.
If the direct breakout upwards is not successful, the price of HBAR could once again find support in the range between $0.045 to $0.064.
Conclusion on Hedera Hashgraph (HBAR)
The rise in recent days and the bullish signals in both the RSI and MACD in the weekly chart indicate further rising prices. The Elliott Wave count confirms this as well. But beware: a short-term pullback is becoming increasingly likely.
Source: bitcoin2go
