HBAR price prediction – Analyzing why Hedera rallied by 9%
Key Takeaways
Why did HBAR see a virtually 10% transfer in latest days?
Its short-term momentum shift was doubtless the product of a market-wide sentiment shift, spurred by Bitcoin’s rally to $116k.
Can HBAR bulls maintain this momentum?
The shopping for strain was weak, and desires to extend dramatically to maintain an uptrend. The worth motion exhibits that this might happen quickly, however till then, merchants have to be affected person.
Hedera [HBAR] rallied 9% in three days, however its buying and selling quantity has been properly beneath the latest common. Does that imply the weekend rally was an unsustainable transfer, or can HBAR bulls’ fortunes change?
Weekly chart retains construction intact
Supply: HBAR/USDT on TradingView
The weekly timeframe confirmed a bullish swing construction, primarily based on the rally in 2024. The 78.6% Fibonacci retracement degree was not damaged, and the low that began the rally at $0.0417 was not examined both.
Though the interior construction turned bearish mid-year, it flipped bullish once more in late June when HBAR broke above the $0.228 excessive and reached $0.30. Regardless of volatility in latest weeks, the weekly session shut nonetheless preserved the bullish framework.
The RSI confirmed momentum was barely in favor of the sellers, however the OBV has not fallen to new yearly lows. This meant that promoting strain was not overwhelming.
This, mixed with the structural restoration, provides room for cautious optimism.
Nevertheless, short-term value motion painted a special image.
The rapid HBAR value targets to control!
Supply: HBAR/USDT on TradingView
The 1-day chart confirmed {that a} bearish construction was in place. Swing merchants would need to await this to alter earlier than seeking to bid.
Speedy resistance stood at $0.182, with a stronger barrier on the $0.233 swing excessive from early October.
A day by day session shut above $0.182 would imply that swing merchants can search for longs, concentrating on $0.233. Beware that the $0.195-$0.298 space might stall bullish momentum.
In the meantime, technical indicators had been starting to shift in favor of the patrons.
As an illustration, the OBV was impartial over the previous week, exhibiting bulls and bears had been equally matched. This would possibly change if $0.182 is flipped to assist.
Additionally, the RSI approached the impartial 50 line, and if it climbs above 50, it will be an early signal of a bullish momentum shift.
Liquidation information hints at northward strain
The 1-month Liquidation Heatmap confirmed that HBAR has been shifting northward over the previous 5 days, concentrating on the cluster of brief liquidations above the value. The following band of liquidity lay at $0.185, and one other thinner band at $0.192-$0.2.
Subsequently, the short-term value targets for HBAR are $0.182 and $0.2. A rally previous $0.233 could be a powerful signal that Hedera was prepared for an uptrend.
Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different forms of recommendation and is solely the author’s opinion
