HBAR price has been showing signs of recovery over recent weeks. Testing of the long-term downtrend line suggests a potential breakout.
Current HBAR Price Situation
Recently, HBAR price has been steadily strengthening and is now approaching a key resistance level. Short-term growth can be seen on the charts, with the current price around $0.176, matching the trendline.
Technical Targets and Support Levels
Analyst Jesse Olson notes a possible buy signal. If the price exceeds $0.176 with significantly high trading volume, it may confirm a breakout. Key resistance levels are found between $0.20 and $0.22, with further zones at $0.24 and $0.25, and a potential target range of $0.28–$0.30. Key support remains around $0.16.
Reasons for Increased Interest in HBAR
The growth in interest for HBAR is supported by its technological advantages. Hedera's hashgraph allows for over 10,000 transactions per second at minimal costs. Moreover, the project is backed by major companies, increasing trust in its future. Additionally, Hedera is actively used for tracking supply chains and managing digital identities.
By observing HBAR price movements and the supporting factors, one can conclude the potential trend for growth. The market is closely watching the upcoming daily closes.
