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.
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.
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.
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!
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.
UNI, Uniswap's native token, appears bullish and is poised for massive upside momentum after a…
The crypto market is always shifting based on global money trends, but a new debate…
XRP holders are finding themselves at a crossroads as recent market trends raise questions about…
Bitcoin, the flagship cryptocurrency, has taken a hit with a 5% drop in its price.…
Amid market uncertainty, Dogecoin (DOGE), a popular and the world’s largest crypto meme coin, appears…
According to historical footprints in the global crypto market, festive seasons are always important for…
