Hedera Price (HBAR) Analysis: Is $0.35 Within Reach?

Hedera (HBAR) has been on an impressive bull run, with its price skyrocketing by 150% in just one week, reaching $0.1445. In the past two weeks alone, the token has surged by a staggering 245%, pushing its market cap to $5.45 billion. This rise has many wondering: can HBAR continue this momentum? Is it on track to break through its 52-week high and reach $0.35? With strong technical signals, market buzz, and potential partnerships in the mix, the future of Hedera is looking increasingly exciting.

Let’s understand why HBAR is the hot choice for crypto investors looking for some low-budget coins. 

HBAR’s Strong Technicals

Hedera’s recent price movement shows a clear V-shaped reversal, bringing it close to its 52-week high of $0.1567. This sharp recovery has been supported by consecutive bullish candles and a positive crossover between the 50-day and 100-day EMAs, both of which suggest strong upward momentum. The MACD histogram also points to an increasingly bullish market trend.

The Ichimoku Cloud chart for HBAR confirms a bullish trend, with the price breaking above the cloud. The green cloud ahead provides strong support, and the Tenkan-sen (conversion line) above the Kijun-sen (baseline) signals solid short-term momentum. Additionally, the Chikou Span (lagging line) reinforces this positive outlook, indicating that HBAR may continue rising.

Price Targets to Watch

Based on Fibonacci retracement levels, analysts are targeting potential prices of $0.2249 and $0.355, a 145% increase from current levels. However, if the price pulls back, it could test $0.1180 or the 78.6% Fibonacci retracement. The Relative Strength Index (RSI) is currently in overbought territory, suggesting the bullish trend could continue, much like in 2021 when HBAR rose from $0.04 to $0.45.

If HBAR continues its upward momentum, it could break through its nearest resistance at $0.14, paving the way for a potential 54% increase to $0.182. However, any trend reversal could result in a pullback to $0.098 or even $0.068, depending on market conditions.

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What’s Driving the HBAR Rally?

The recent buzz about a potential partnership between Hedera Hashgraph and SpaceX has fueled bullish sentiment. This collaboration, focused on satellite-based payments, could help push HBAR’s price even higher if confirmed.

Crypto analyst Mason Versluis has pointed out that Brian Brooks, a Hedera board member and former CEO of Binance US, could be the next chairman of the U.S. Securities and Exchange Commission (SEC). Brooks’ experience in both traditional finance and crypto regulation could bring a new perspective to the SEC, potentially sparking more interest in the crypto market.

This, too, could have a positive effect on HBAR’s price.

Hedera’s remarkable rise could be a sign of bigger things to come, making it a token to keep an eye on.