Key Notes
- HBAR is trading at $0.2477, down 1.2% in the last 24 hours.
- The recent 30% rebound from key support has led analysts to predict further bullish rally.
- With a $10.3 billion market cap, HBAR is now the 12th largest cryptocurrency, surpassing XLM and LTC.
Hedera Hashgraph HBAR $0.22 24h volatility: 15.0% Market cap: $9.45 B Vol. 24h: $811.34 M is currently trading at $0.2477, down by 1.2% over the past 24 hours. Analysts suggest that the cryptocurrency is positioned for further upside after its recent 30% price rebound from a critical support level.
Technical analyst Cas Abbe recently shared a chart, highlighting a Relative Strength Index (RSI) breakout alongside a bullish MACD crossover, the first of its kind since Q4 2024.
Source: Cas Abbe
According to Abbe, these indicators could result in a bullish rally toward $0.33, likely before a brief correction sets in. He further speculates that a new all-time high (ATH) could follow this move. Notably, HBAR achieved its peak at $0.5701 in September 2021.
At the time of writing, HBAR boasts a market capitalization of $10.3, up by over 25% in the past week. The token’s recent price rally has pushed it to become the 12th largest cryptocurrency based on market cap, surpassing well-known cryptocurrencies like Stellar XLM $0.29 24h volatility: 16.2% Market cap: $9.03 B Vol. 24h: $491.49 M and Litecoin LTC $110.5 24h volatility: 13.0% Market cap: $8.37 B Vol. 24h: $1.69 B . As per the data by Google Trends, HBAR has seen a major increase in its popularity, rising from 17 to 46 levels since mid-February.
HBAR Price Analysis
The Bollinger Bands on the daily HBAR price chart suggest that the token is approaching a potential breakout phase. The bands are tightening, indicating a period of low volatility that typically precedes an expansion in price action. A strong close above the middle band (20-day SMA) would strengthen the bullish case. However, a rejection from the middle band could lead to another retest of support.
Source: TradingView
Meanwhile, the Accumulation/Distribution (A/D) indicator signals steady buying pressure. A rising A/D line suggests that smart money is accumulating HBAR despite the short-term consolidation. If this continues, it could support a bullish breakout in the coming days.
Interestingly, HBAR price is forming a Double Bottom on the daily chart—an inherently bullish pattern that often precedes a trend reversal. If HBAR manages to break through the liquidity zone, it could pave the way for further gains.
Analysts are eyeing the $0.29578 resistance level as a crucial breakout point. A decisive move from there could result in an extended rally toward $0.41618 in the short-term. However, if HBAR fails to hold above key support levels, a temporary retracement toward $0.22-$0.23 could happen before any further upside.
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