As the bull run in the Hedera (HABR) token hits $0.15, the rally targets an extension to $0.35 for a new 52-week high.
With a price jump of 150% over the last seven days, Hedera’s market cap has reached $5.452 billion. HBAR trades at $0.1445 at press time, with a 24-hour surge of 16.17%.
Will the bullish trend in HBAR price result in a new 52-week high this November? Let’s analyze the current price trend to determine the next potential target levels.
HBAR Price Analysis
On the daily chart, the HBAR token shows a massive V-shaped reversal rally, inching closer to its 52-week high. Starting from a low of $0.04159 earlier this month, HBAR’s bull run has propelled its price by 245% in the last two weeks.
The bullish turnaround is challenging the 100% Fibonacci level at $0.1567. The intraday candle shows a potential doji formation following last night’s massive 60% surge.
Over the last five days, it has made consecutive bullish candles, accounting for a nearly 150% surge. The bullish momentum has resulted in a positive crossover between the 50-day and 100-day EMA lines. Furthermore, it has increased the chances of a golden crossover between the 50-day and 200-day EMAs.
The MACD and signal lines show extremely bullish histograms, supporting the bullish trend and reflecting strong momentum. As a result, the technical indicators are signaling a buy for Hedera.
Will Hedera (HBAR) Price Cross $0.25?
Speculation about a potential partnership between Hedera Hashgraph and SpaceX’s ambitious blockchain mission is fueling the HBAR/USD rally. As Hedera aims to play a key role in satellite payments, the bullish momentum in HBAR appears to be gaining strength.
Based on the Fibonacci levels, the continuation of the uptrend suggests price targets of $0.2249 and $0.355. This represents a potential 145% extension from the current market price.
On the other hand, a pullback could see the price retesting $0.1180 or the 78.60% Fibonacci level.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
