A naukri.com initiative
Bravenewcoin
7d
390
Image Credit: Bravenewcoin
Hedera Price Prediction: HBAR Builds Momentum After Swift-Fueled Consolidation Break
- Hedera (HBAR) price has shown stability above key support levels despite recent losses.
- Institutional partnerships and growing transaction base support positive sentiment towards Hedera.
- HBAR displayed a bearish structure on the 1-hour chart between June 10 and June 13, with a notable price drop.
- Open interest decreased during the price fall, but has since recovered slightly.
- Analysts suggest cautious optimism based on strong fundamentals and network adoption.
- Market participants appear to be waiting for a clear breakout before re-entering fully.
- Analysts suggest that a return to $1 per token for HBAR could imply a market cap near $40 billion.
- SWIFT integration and ongoing partnerships are seen as potential catalysts for Hedera.
- Hedera continues to process a high throughput of transactions with minimal fees.
- The governance model backed by major corporations adds stability to Hedera's ecosystem.
- Speculation around further integrations and corporate partnerships contributes to long-term bullish sentiment.
- The weekly chart of HBAR shows historical high volatility and recent retracement to trade near $0.148.
- Technical indicators like RSI suggest a potential accumulation phase at current levels.
- The Moving Average Convergence Divergence (MACD) indicates a minor bearish crossover, but setup resembles conditions before a previous price surge.
- Overall, the current setup for Hedera reflects cautious optimism amid potential growth drivers and strong fundamentals.
Read Full Article
23 Likes
For uninterrupted reading, download the app