Will HBAR Price Reach $0.10 This Year?

BINANCE:HBARUSD   Hedera Hashgraph
Bullish Trend Attempt: HBAR is attempting a bullish break past the symmetrical triangle pattern.

Recent Price Hike: There's been a 3.5% increase in HBAR prices, indicating a continuation of the bullish trend towards the $0.075 mark.

Golden Crossover Potential: The bullish influence on the 50-day and 200-day EMAs suggests a possible golden crossover.

Resilience Amid Bitcoin Pullback: Despite a pullback in Bitcoin's price and a significant $307 million in market liquidations, HBAR's price remains steady and continues its upward trend.

Bitcoin's Influence: Bitcoin’s price drop to 36K (a 4.5% decrease) hasn't negatively impacted certain altcoins, including HBAR, which continues to show positive momentum.

Demand Increase for HBAR: The double bottom reversal from the $0.045 level has fueled increased demand and an ongoing uptrend for HBAR.

Market Recovery and Altcoin Performance: The market-wide recovery, partly due to Bitcoin Spot ETF anticipations, is contributing to the exceptional performance of altcoins like HBAR.

30-Day Price Jump: HBAR has seen a significant 37% jump in price over the last 30 days.

Bullish Engulfing Candle Formation: Currently trading at $0.063, HBAR has formed a bullish engulfing candle, with a 3.41% intraday growth and supported by a surge in trading volume.

Breakout Entry Signal Potential: The bullish engulfing candle and sustained buying pressure might soon offer a breakout entry signal for sideline traders.

Technical Indicators: The daily RSI is trading sideways near the overbought boundary, indicating high volatility but remaining bullish.

Triangle Breakout and Future Targets: With the golden crossover and ongoing uptrend, HBAR is poised for a triangle breakout, potentially rallying to the $0.075 mark, and possibly reaching $0.10 if the momentum continues. Conversely, a failure in sustaining buyer dominance could lead to a drop to $0.050.


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