Crypto Industry Records New Yearly High! Will The Market Keep Up The Bullish Run?

The post HBAR Price Eyes A 40% Bull Run With A New Triangle Break! appeared first on Coinpedia Fintech News

In essence of the overall market recovery, the HBAR price continues to gain bullish momentum to fuel the ongoing recovery rally. With high-speed recovery, the altcoin gives a breakout entry signal as the prices explode overnight. 

Moreover, with the price of Bitcoin hanging tight to the $37K mark, the altcoins are ready to skyrocket. Therefore, the possibility of an uptrend in Hedera market prices is growing significantly. 

Source- TradingView

The recovery rally in HBAR price prolongs with the overall market recovery to crack multiple overhead resistances. With remarkable growth over the weeks, the altcoin price reclaims the $0.060 mark and heads to the overhead resistance trendline. 

Facing enormous supply at the overhead trendline, the recovery rally takes a short pullback and retraces backward steps to regain momentum. Following the breather phase with a retest of $0.057, the buyers prolong the uptrend to fracture the resistance trendline. 

Giving a bullish breakout of the triangle pattern, the HBAR price trend increases and finds an additional breakout rally. Currently, the altcoin prices trade at $0.064 with an intraday gain of 3.66%, reflecting strong demand in action.

Technical indicator:

RSI indicator: The daily RSI line maintains a sideways trend but tracks the overbought boundary closely. Thus, the momentum indicator shows a bullish trend in motion.

EMAs: As the golden crossover occurs in the daily chart, the HBAR price is ready to gain momentum. 

Will HBAR Price Rise Above $0.075?

Following the triangle breakout and the golden crossover certifying a pivotal trend reversal, the HBAR price trend prolongs the dominant bull run. Moreover, the momentum increases with the overall market recovery, teasing a breakout rally to cross the $0.075 mark. 

Considering the buyers reclaim the $0.075 post, the high-speed recovery can cross the psychological mark of $0.10. 

If the buyers fail to dominate, the market price can plunge to $0.060.

By admin

Leave a Reply

Your email address will not be published. Required fields are marked *