Hedera Hashgraph (HBAR) Price Prediction: HBAR Targets $0.098 as Bullish Reversal Pattern Emerges

Hedera Hashgraph (HBAR) is trading at $0.0492, with a slight gain of 0.82%. Analysts consider $0.0450 to be important support and $0.0550-$0.0600 as a resistance level that HBAR must break to confirm an uptrend.

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Hedera Hashgraph (HBAR) price analysis: HBAR shows a slight gain with weak technical indicators.

Hedera Hashgraph (HBAR) price analysis reveals a slight gain in the cryptocurrency's value over the past 24 hours, as it now trades at $0.0492. This marks a 0.82% increase in the HBAR price, following a period of consolidation within a narrow trading range.

HBAR’s price action over the past seven days has seen a low of $0.047 and a high of $0.049, with a price volatility of 2.91%. The slight gain over the past 24 hours comes as a positive sign following a period of decline. However, the technical indicators remain weak, suggesting that the bears still have the upper hand in the short term.

HBAR’s crucial support stands at $0.0450, and a break below this level could lead to further losses. On the other hand, resistance is present at $0.0550-$0.0600, and a sustained breakout above this zone is necessary to confirm an uptrend.

HBAR price analysis: Key technical levels to watch

The 4-hour chart for Hedera Hashgraph (HBAR) price analysis: HBAR4 reveals a downtrend with lower lows and highs.

The RSI for HBAR is at 42.75, indicating weak momentum just below the neutral 50 mark. This level suggests that sellers remain in control, but a rise above 50 indicates a possible bullish breakout.

The MACD indicator has the MACD line below the signal line, with the MACD line at -0.0009 and the signal line at -0.004. Furthermore, if the MACD line overlaps and crosses the signal line, it may affirm the beginning of a trend reversal to the advantage of the bulls.

HBAR’s price has been oscillating between $0.0450 and $0.0550, with a lack of substantial movement beyond this range. A break above the resistance at $0.0550 is necessary to affirm a bullish trend.

This consolidation phase reflects a mixed outlook as both RSI and MACD show no clear buying or selling pressure. Analysts stressed that it is crucial for HBAR to sustain a price above $0.0450 to avoid further losses.

HBAR’s future depends on sustaining at $0.035, further weakness may lead to a deeper downfall.

As per best_analysts, HBAR’s future depends on sustaining at $0.035, further weakness may lead to a deeper downfall.

“HBAR is expected to stay above $0.035,” the best _analyst noted, hinting that if the price drops below the $0.035 mark, it may take long for the bear market to reverse.

On the other hand, HBAR needs to have a bullish reversal above this level of support, which would indicate a strong bounce to $0.098.

However, best_analyst points out that the achievement of this target has to be backed by clear confirmation signals from price action and other technical indicators.

The social media community echoes a similar sentiment, with discussions highlighting HBAR’s circulating supply of over 37 billion and its unique hash graph technology.

The majority view HBAR as more than just a cryptocurrency, with one X user commenting, “HBAR is redefining blockchain with speed, security, and scalability.” However, issues of increased supply and market trends remain as potential barriers.

Best__analysts also use Elliott Wave Theory to determine potential HBAR price formation.

Best__analysts also use Elliott Wave Theory to determine potential HBAR price formation.

The current wave structure given as corrective waves (w) (y) indicates that HBAR might be in the final stage of a corrective cycle. Wave (C) could make a bearish pattern at the lowest with a target of about 0.035.

If this corrective phase comes to a successful end then HBAR could jump into an impulsive Wave (iii) upwards that may reach $0.098.

The impulsive wave (iii) would be expected to follow next and correspond to the breakout above the resistance region from $0.0550 to $0.0600, which signifies an uptrend on the chart.

This indicated possible bullish wave depends on the continued movement of HBAR with intermediate price levels helping in determining a change of trend. The Elliott Wave analysis clearly implies that although the upside is large, the support and resistance are key junctures for direction determination.

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