USD

AED

AFN

ALL

AMD

ANG

AOA

ARS

AUD

AWG

AZN

BAM

BBD

BDT

BGN

BHD

BIF

BMD

BND

BOB

BRL

BTN

BWP

BYN

BZD

CAD

CDF

CHF

CLF

CLP

CNH

CNY

COP

CRC

CUC

CUP

CVE

CZK

DJF

DKK

DOP

DZD

EGP

ERN

ETB

EUR

FJD

FKP

GBP

GEL

GHS

GIP

GMD

GNF

GTQ

GYD

HKD

HNL

HRK

HTG

HUF

IDR

ILS

IMP

INR

ISK

JMD

JOD

JPY

KES

KGS

KHR

KMF

KPW

KRW

KWD

KYD

KZT

LAK

LBP

LKR

LRD

LSL

LYD

MAD

MDL

MGA

MKD

MMK

MNT

MOP

MRO

MRU

MUR

MVR

MWK

MXN

MYR

MZN

NAD

NGN

NIO

NOK

NPR

NZD

OMR

PAB

PEN

PGK

PHP

PKR

PLN

PYG

QAR

RON

RSD

RUB

RWF

SAR

SBD

SCR

SDG

SEK

SGD

SHP

SLL

SRD

SSP

STD

STN

SVC

SYP

SZL

THB

TJS

TMT

TND

TOP

TRY

TTD

TWD

TZS

UAH

UGX

UYU

UZS

VES

VND

VUV

WST

ZAR

ZMW

ZWL

CoinGape 2024-11-30 00:35:22

Hedera (HBAR) Price Jumps 25% As Analyst Predicts 192% Rally

Hedera (HBAR) price has seen a bullish shift in the last 24 hours, with the price shooting to a 2-year high of $0.1808 before facing resistance. Despite the resistance, the HBAR price at press time was trading at $0.1823, a 25% surge from the intra-day low. During the rally, HBAR’s trading volume and market capitalization soared by 261% and 25% respectively, reaching $954.36 million and $6.92 billion. Hedera (HBAR) Price Jumps 25% Hedera (HBAR) price has displayed strong upward momentum, reinforced by technical indicators suggesting continued bullish trends after skyrocketing over 25%. The HBAR price recently crossed both its 50-day (SMA 50) and 200-day (SMA 200) simple moving averages, forming a “golden cross”. The SMA 50 is currently at $0.07545, while the SMA 200 is positioned at $0.07169, both well below the current price. HBAR/USD price chart (Source: TradingView) The Relative Strength Index (RSI) for HBAR has reached 78.56, nearing the overbought zone of 80. This suggests strong buying activity but also indicates a potential price consolidation as traders may take profits. However, analysts remain optimistic, with one Javon Marks forecasting a possible rally to $0.504, representing a 192% increase from current levels. Increased Market Activity Boosts Investor Confidence HBAR’s price rally has been accompanied by heightened trading activity and open interest, indicating growing market participation. Trading volume surged by 261% to $954.36 million in 24 hours, while open interest grew by 48.26% to $208.25 million. This increase suggests that new capital is entering the market, which could support sustained upward price movement. According to More Crypto Online, HBAR’s current movement aligns with Elliott Wave theory, suggesting one more high is likely in the short term. Analysts are monitoring key resistance levels at $0.176, $0.20, and $0.23. A breakout above these levels could further validate the bullish trend. Federal Reserve Collaboration Fuels Positive Sentiment HBAR’s recent price surge is also being supported by its growing role in blockchain-based federal payment systems. Hedera is integrated into the Federal Reserve’s FedNow payment platform through Dropp, enabling real-time payments with increased efficiency and security. In addition, Ripple (XRP), which has partnered with Hedera for USD transactions, is expected to receive regulatory approval to launch its RLUSD stablecoin in December 2024. This partnership could enhance interoperability between Hedera and Ripple, further bolstering HBAR’s adoption in the payments sector. Concurrently, HBAR traders are also optimistic due to speculation about the potential approval of a Hedera exchange-traded fund (ETF) submitted by Canary Capital to the U.S. Securities and Exchange Commission (SEC). With Gary Gensler stepping down as SEC chairman, an ETF approval, which is likely under Trump’s administration, is possible hence could provide broader exposure to institutional investors, fueling additional HBAR price gains. The post Hedera (HBAR) Price Jumps 25% As Analyst Predicts 192% Rally appeared first on CoinGape .

Related News

Bitcoin Price Prediction 2025: Can BTC Rally to $1...
17 Dec 2024
MicroStrategy’s Bitcoin Bet Pays Off: Surpassed $2...
17 Dec 2024
This Hot 0.12 Altcoin Could Hit 5B Market Cap If P...
17 Dec 2024
Ethereum Breaking Above the Threshold—Here’s Only...
17 Dec 2024
RLUSD Launch Price Prediction: Here’s What Industr...
17 Dec 2024
Metaplanet Raises $30 Million Through Zero-Interes...
17 Dec 2024

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.

Hedera (HBAR) Price Jumps 25% As Analyst Predicts 192% Rally

Most Read News

Related News