Hedera (HBAR) price has broken through long-standing resistance, creating conditions for significant growth in the upcoming weeks.
Breakout from Falling Wedge on HBAR Price
Analyst Steph Is Crypto reported that Hedera price has broken the falling wedge on the weekly chart. This indicates potential for a strong bullish run. The breakout occurred after several months of consolidated price movements within descending trend lines. It is forecasted that the price may reach $0.70 or higher within the next few weeks.
Confirmation of Trend Change on the Chart
Analyst Erica Hazel confirmed the price breakout of Hedera on the daily chart. A MACD crossover was also registered, confirming the trend change. An increase in trading volume during the breakout indicates renewed interest from traders. This creates a backdrop for a rapid ascent to the $0.40 level and beyond.
Institutional Interest and Its Impact on HBAR
Recent news from the traditional finance sector also supports HBAR's rise. Lloyds Bank and Aberdeen Asset Management announced the launch of tokenized funds through Hedera, suggesting significant capital inflows. This collaboration is creating additional interest from institutional investors, potentially leading to increased demand for HBAR's utility.
Current trends and institutional interest reinforce an optimistic outlook for HBAR price. Traders monitoring support and resistance levels may anticipate further growth in the coming weeks.
