Hedera (HBAR) Rallies 245% in Two Weeks, Targeting $0.35 as Bulls Eye SpaceX Partnership

Hedera (HBAR) has been on an impressive bull run, with its price skyrocketing by 150% in just one week, reaching $0.1445.

.35 as Bulls Eye SpaceX Partnership" >

Hedera (HBAR) has been making waves in the crypto market with its impressive bull run. In just one week, the token's price has skyrocketed by 150%, reaching $0.1445. This surge has pushed HBAR's market capitalization to $5.45 billion, a significant increase from its previous valuation.

But what's driving this HBAR rally and can the momentum continue? Let's take a closer look at the technical signals, market buzz, and potential partnerships that are impacting Hedera's future.

HBAR's Strong Technicals

A glance at Hedera's recent price movement reveals a clear V-shaped reversal, bringing the token to the doorstep of its 52-week high at $0.1567. This sharp recovery has been supported by consecutive bullish candles and a positive crossover between the 50-day and 100-day EMAs, both signaling strong upward momentum. The MACD histogram also points to an increasingly bullish market trend.

On the Ichimoku Cloud chart, the price is breaking above the cloud, confirming a bullish trend. The green cloud ahead provides strong support, and the Tenkan-sen above the Kijun-sen signals solid short-term momentum. Moreover, the Chikou Span reinforces this positive outlook, indicating that HBAR may continue rising.

Price Targets to Watch

Based on Fibonacci retracement levels, analysts are targeting potential prices of $0.2249 and $0.355, a 145% increase from current levels. However, if the price pulls back, it could test $0.1180 or the 78.6% Fibonacci retracement. The Relative Strength Index (RSI) is currently in overbought territory, suggesting the bullish trend could continue, much like in 2021 when HBAR rose from $0.04 to $0.45.

If HBAR continues its upward momentum, it could break through its nearest resistance at $0.14, paving the way for a potential 54% increase to $0.182. However, any trend reversal could result in a pullback to $0.098 or even $0.068, depending on market conditions.

What's Driving the HBAR Rally?

Recent rumors of a potential partnership between Hedera Hashgraph and SpaceX have sparked bullish sentiment among crypto investors. This collaboration, focused on satellite-based payments, could help push HBAR's price even higher if confirmed.

In other news, crypto analyst Mason Versluis has highlighted that Brian Brooks, a Hedera board member and former CEO of Binance US, is in the running to become the next chairman of the U.S. Securities and Exchange Commission (SEC). Given Brooks' experience in both traditional finance and crypto regulation, his appointment could bring a new perspective to the SEC, potentially sparking more interest in the crypto market. This, too, could have a positive effect on HBAR's price.

Hedera's remarkable rise could be a sign of bigger things to come, making it a token to keep an eye on, especially for those looking to add some low-budget coins to their portfolio.

The above is the detailed content of Hedera (HBAR) Rallies 245% in Two Weeks, Targeting $0.35 as Bulls Eye SpaceX Partnership. For more information, please follow other related articles on the PHP Chinese website!