Hedera's Price Trend Indicates a Bullish Scenario, According to Experts who Predict the Conclusion of the Last Price Upswing
In the world of cryptocurrency, Hedera Hashgraph's token (HBAR) is causing a stir among analysts. According to experts such as Hov and Steph Is Crypto, the altcoin might be forming a decisive wave structure that could dictate its next major move.
The analysis suggests a repeating cycle of accumulation, breakout, and rapid expansion, which supports cautious optimism for further upside. This technical setup could indicate a potential continuation of the 2021 rally, with the possibility of exponential growth.
Currently, HBAR is consolidating within a tight range around $0.24, having recovered more than 100% from a key blue entry level. However, caution remains around resistance levels, with retests at lower levels potentially providing more favorable entry points for traders.
The market recorded a modest decline of 0.44% over the past 24 hours, signaling indecision in the short-term direction. Despite this, the token's movement highlights both the strength of its recent rally and the caution present at critical resistance levels.
According to Hov, the token's current movement is completing three distinct waves from the low. A confirmed breakout above the immediate resistance zone could strengthen the case for further upside momentum. If momentum carries it beyond resistance zones, the price action could confirm the projected final wave, setting the stage for further expansion.
Trading volumes have remained consistent, with buyers accumulating at lower levels but facing challenges breaking through higher resistance points. The altcoin has traded within a narrow range of $0.238 to $0.242, indicating consolidation.
With a market cap above $10 billion and consistent trading activity, the asset remains highly liquid. The token has a capitalization above $10.14 billion and a daily volume of $238 million.
Technical signals and wave counts suggest that breaking above immediate resistance could unlock significant upside potential. However, failure to maintain support around $0.24 or break resistance near $0.242 could lead to further tests at lower levels.
Analyst Steph Is Crypto goes a step further, suggesting that the asset may be entering its final wave of the cycle. This phase could mean either a continuation of upward momentum or the start of a downward correction depending on market reactions around key resistance levels.
In conclusion, while the outlook for HBAR is positive, traders should exercise caution around resistance levels. The next few days could be critical in determining the direction of the market, whether it's a continuation of the upward trend or a potential correction.
Read also:
- Understanding Hemorrhagic Gastroenteritis: Key Facts
- Trump's Policies: Tariffs, AI, Surveillance, and Possible Martial Law
- Expanded Community Health Involvement by CK Birla Hospitals, Jaipur, Maintained Through Consistent Outreach Programs Across Rajasthan
- Abdominal Fat Accumulation: Causes and Strategies for Reduction
