$HBAR

Hedera Hashgraph Surges as Expected: What’s Next for HBAR?

Hedera Hashgraph has been on a significant upswing recently. After experiencing a retracement earlier this month, HBAR bounced off a key support level. The surge has sparked excitement, but what’s next for the token?

HBAR Eyes $0.4 and Above

On December 24, HBAR experienced a 13.26% price increase. However, the chart still shows some bearish signs. The $0.331 resistance level has yet to be broken, and the daily chart shows a lower high, suggesting a breakout is yet to occur. However, the bigger picture supports the bullish trend.

Fibonacci levels show that the $0.255 support zone is acting as a 50% retracement. The bounce off $0.255 indicates strong demand. On-Balance Volume (OBV) continues to increase, confirming increased buying interest. Additionally, the Relative Strength Index recently bounced from the neutral level of 50, strengthening the positive momentum.