The HBAR token has seen a substantial increase in recent days, showing nearly 100% growth. Over the past 24 hours, it surged by 31%, raising hopes for a new 52-week high. Let's delve deeper into the HBAR price dynamics and its future price targets.
HBAR Growth Gains Momentum
In the daily chart, HBAR's price action concludes the lower high trend formation with three consecutive bullish weeks. The uptrend has surpassed the long-standing resistance trend line. The surge accounts for approximately 160% growth over three weeks, surpassing the 50% Fibonacci level at $0.1277, which coincides with the 200-day simple moving average. As the 'triple white soldier' pattern forms, the rally is expected to gain further momentum with last week's candle closing successfully above the resistance line.
Will HBAR Reach $0.20?
Based on the Fibonacci level, the bullish trending HBAR token is likely to lead to this breakout rally. With a 50% neckline breakout, the bull run is likely to surpass the $0.20 mark and hit the 78.60% Fibonacci level at $0.2609. During this process, the uptrend is likely to cross the 52-week high formed at $0.1821. Supporting the bullish trend, the MACD and signal lines have crossed positively, reflecting a shift in momentum.
Frequently Asked Questions
Q1: What is driving HBAR's recent bullish momentum? A: The breakout from a long-term resistance trendline, triple white soldier pattern, and increased buying pressure have fueled HBAR's rally.
Q2: What are HBAR's next price targets based on Fibonacci levels? A: If HBAR breaks above $0.1277, the next targets are $0.20 and $0.2609, corresponding to the 61.8% and 78.6% Fibonacci levels.
Q3: Could HBAR face a price correction despite the rally? A: Minor pullbacks to retest breakout levels like $0.1277 may occur, but the overall trend remains bullish with strong momentum indicators.
The HBAR token demonstrates impressive growth dynamics, offering potential price targets. However, corrections may occur on the way to new heights.
