HBAR Trading at $0.2477 After 30% Price Rebound
Hedera Hashgraph (#HBAR) is trading at $0.2477, down 1.2% in the last 24 hours. Analysts indicate potential for upside following a 30% rebound from a support level.
- Technical analyst Cas Abbe noted a Relative Strength Index (RSI) breakout and a bullish MACD crossover, first since Q4 2024.
- These indicators may trigger a rally towards $0.33 before a brief correction; a new all-time high could follow.
- HBAR's market cap stands at $10.3 billion, increasing over 25% in one week, making it the 12th largest cryptocurrency.
- Google Trends shows HBAR's popularity jumped from 17 to 46 since mid-February.
HBAR Price Analysis
- Bollinger Bands indicate HBAR is approaching a breakout phase; tightening bands suggest low volatility before potential price expansion.
- The Accumulation/Distribution (A/D) indicator reflects steady buying pressure, indicating accumulation by investors.
- A Double Bottom pattern on the daily chart suggests a bullish trend reversal may be forthcoming.
- Resistance at $0.29578 is crucial for a breakout; a decisive move could lead to gains toward $0.41618.
- If HBAR fails to maintain support, a retracement to $0.22-$0.23 may occur before any upward movement.