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Sohrab Khawas
Sohrab Khawas
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Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Dec 02, 2024 07:16 UTC
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HBAR Price Analysis: Can $0.25 Breakout Rally Target $1?
Weekly Breakout: HBAR records a fifth bullish week, surpassing $0.2409, aiming for $0.35 with $0.20 as support.
Indicators Confirm Uptrend: MACD crossover and nearing EMA bullish crossover signal a strong trend reversal rally.
Psychological Targets: HBAR at $0.2515 eyes $0.44, $0.5, and a potential $1 rally.
Despite the recent stalling, the altcoin market is gaining momentum, with the Bitcoin price gaining momentum and inching closer to the $100,000 mark. Among the top performers, HBAR price trend has started to continue its fifth consecutive bullish week.
In the weekly chart, the HBAR price trend has surpassed the critical resistance level, giving a new breakout rally. As the altcoin reaches the $0.25 psychological mark, will the altcoin rally result in a price forex rally to reach the $1 mark? Let’s find out.
HBAR Price Surpasses $0.25
In the weekly chart, the HBAR price action showcases the fifth bullish weekly candle in the making. Currently, the HBAR token is trading at $0.2515 with an intraday gain of 20%.
The bullish engulfing candle has now reached the price level last seen in March 2022. This massive HBAR price rally after years of consolidation reveals a massive surge in bullish momentum.
Based on the Fibonacci levels, the uptrend has surpassed the 50% mark at $0.2409. The bullish breakout opens up the chances of altcoin reaching the previous peak of $0.44. This also makes the all-time high price of $0.5 potentially scalable in the upcoming weeks.
Technical Indicators:
MACD: As the bullish trend continues, the MACD and signal lines have given a positive crossover.
EMA: The 50-week and 200-week EMA lines are inching closer to a bullish crossover. This will mark a significant milestone for the trend reversal rally.
Will HBAR Price Hit $0.10?
As the overall sentiment increases, the breakout rally will find a sentimental boost. Considering the Fibonacci level, the HBAR price rally targets $0.35 as the immediate price target. Conversely, the critical support remains at $0.20.
Wondering if the HBAR price will hit $1? Read our Hedera Price Prediction to find out the long-term possibilities and also subscribe to us to get the latest news first!
FAQs
The immediate target is $0.35, with potential rallies to $0.44 and $0.5.
The key support level lies at $0.20.
While $1 is a long-term target, current momentum suggests potential rallies toward $0.44 and $0.5 first.
Yes 
No 
