- Hedera’s native token, HBAR, surged over 27% in just one week to $0.19 amid bullish technical indicators.
- HBAR could rally towards $0.4 if it breaks over key resistance levels.
Hedera (HBAR) has experienced a remarkable price rally, gaining over 20% over the past 24 hours. The latest price surge comes despite the crypto market registering mixed momentum.
Technicals Looking Good for Hedera
According to our data, HBAR price was traded at $0.1986 with a daily and weekly growth of 6.5% and 27% respectively.
Notably, HBAR boasts a 24-hour trading volume of $826 million. This metric increased by over 24%, indicating renewed interest from traders and investors.
Investors are accumulating HBAR, possibly due to the regular gains and its ability to overcome key resistance levels. The price of HBAR remained stable over the last 24 hours. This indicates that the bullish momentum continues to sustain the current upward trend.
HBAR price was currently ranked the 19th-biggest cryptocurrency with a market capitalization of $8.42 billion.
Detailed analysis of the price chart revealed that HBAR initially consolidated near $0.15. From here, the price moved in a strong uptrend, sustained by higher lows and rising volume.
Hedera broke through the $0.19 level, climbing towards a local top higher than $0.21. Shortly after, HBAR experienced slight resistance close to $0.20. Despite minor reversals, the value managed to hold above its previous resistance, which acted as a key support.
On the technical front, momentum remains good, and traders watch the level of resistance close to $0.25. This is a crucial level that could ignite an actual breakout.
The 27% weekly gain also comes on the heels of current ecosystem developments. As we covered in our latest report, Hedera joined “Project Acacia”, sponsored by the Australian Central Bank. The project aims to explore how digital money could support the development of Australia’s broad tokenized market.
HBAR Price Eyes $0.4 as Mid-term Target
Crypto analyst Solberg Invest has forecasted $0.4 as the mid-term target for HBAR. The analyst pointed out a bullish indicator that hints at HBAR moving towards the $0.4 target.
Notably, the Hedera price chart showed the formation of an ascending triangle, usually a bullish continuation signal. Solberg Invest projected a mid-term price target of $0.4 for HBAR, depending on the height of the triangle formation.
Meanwhile, the setup registered rising demand while the price consolidated against horizontal resistance.
The $0.4 target aligns with an earlier prediction from Crypto trader VipRoseTr, as noted in our earlier post. VipRoseTr pointed out a descending triangle maintained from mid-2024 to May 2025.
He emphasized that the pattern is marked by a flat support at $0.10 and a decreasing resistance line that extends from $0.30. According to the trader, HBAR could break three key resistance levels at $0.27, $0.34, and $0.41.
Other market analysts have also made bullish predictions for HBAR. In a recent study we reported on, analysts predicted that HBAR may see a breakout towards $2.25 in the long term.
Recommended for you:
Credit: Source link
