Hedera (HBAR) Price Prediction: HBAR Breakout Run Gains Momentum

HBAR's price has surged 160% in three weeks, breaking past key resistance levels and nearing the 50% Fibonacci level at $0.1277.

The price of HBAR has surged 160% in three weeks, breaking through several key resistance levels and nearing the 50% Fibonacci level. This rapid ascent suggests that the bulls are in control and that the uptrend could continue.

The formation of a triple white soldier pattern and a rounding bottom on the daily chart hints at further bullish momentum targeting the $0.20 and $0.2609 levels. A positive MACD crossover and a breakout above the 200-day SMA signal a strong uptrend, with the potential to surpass the 52-week high at $0.1821.

With a market cap of $4.208 billion, the HBAR token has skyrocketed in less than seven days. Over the last seven days, it has increased by nearly 100% and is now trading at $0.1117.

In the last 24 hours, a jump of 31% has crossed the $0.10 psychological mark, increasing the chances of a new 52-week high. So, let’s take a closer look at the HBAR price trend and find out the upcoming price targets for this rising altcoin.

Hedera Breakout Run Gains Momentum

Observing the daily HBAR price action, we can see that the lower high trend formation has concluded with three consecutive bullish weeks. This uptrend has breached the long-coming resistance trendline.

TradingView

The bull run accounts for a nearly 160% surge in three weeks, crossing above and now challenging the 50% Fibonacci level at $0.1277. This Fibonacci level coincides with the 200-day simple moving average line.

As the triple white soldier pattern forms, the triangle breakout rally is expected to gain further momentum. Currently, last week’s candle has had a successful closing above the resistance trendline.

Followed by the 24% intraday gain, the bull run is expected to cross above the 50% level. Furthermore, it reflects a rounding bottom reversal with the neckline coinciding with $0.1277.

Will HBAR Price Hit $0.20?

Based on the Fibonacci level, the bullish trending HBAR token is likely to give this rounding bottom breakout rally. With the 50% neckline breakout, the bull run is likely to surpass the $0.20 mark and hit the 78.60% Fibonacci level at $0.2609.

In this process, the uptrend is likely to cross above the 52-week high formed at $0.1821. Supporting the bullish trend, the MACD and signal lines have given a positive crossover, reflecting a shift in momentum.

FAQs

The breakout from a long-term resistance trendline, triple white soldier pattern, and increased buying pressure have fueled HBAR’s rally.

If HBAR breaks above $0.1277, the next targets are $0.20 and $0.2609, corresponding to the 61.8% and 78.6% Fibonacci levels.

Minor pullbacks to retest breakout levels like $0.1277 may occur, but the overall trend remains bullish with strong momentum indicators.

The above is the detailed content of Hedera (HBAR) Price Prediction: HBAR Breakout Run Gains Momentum. For more information, please follow other related articles on the PHP Chinese website!