- Summary:
- HBAR has been the third-largest gainer among the top 100 crypto coins in the last week, rising over 64 percent to create a strong sentiment.
Hedera Hashgraph’s (HBAR) price performance has taken the crypto space by storm, registering a 64% gain in the last seven days. HBAR price trades at $0.240, with intraday gains of 15% as of this writing, affirming the likely continuation of the bullish pattern. In addition, HBARUSD has registered rising trading volumes on the daily chart, adding credence to the bullish view of the price.
The coin has been the third-best performer among the top 100 crypto in the last week, trailing only Ethereum Name Service (ENS) and XRP. This has helped it build a Fear Of Missing Out (FOMO) sentiment that adds fuel to its upward propulsion. However, much will also depend on the performance of Bitcoin in the coming days.
Bitcoin has resurged in the last three days after the initial consolidation last week. However, it is currently signaling weakening momentum as support returns to $95k. That said, HBAR price is supported by strong sentiment around its inclusion in the FedNow payments system. Also, the sentiment is supported by the incoming crypto-friendly Trump regime, which is expected to liberalise the integration of crypto into the mainstream economy.
HBAR price has a strong upside momentum, with the Average Directional Index (AVX) reading at 60. However, the coin has also broken above the upper Bollinger Band as seen on the chart below. This signals overbought conditions, which could usher selling pressure in the coming days.
HBAR price prediction
Pivot: HBAR pivots at $0.249. Action above this level will favour bullish control. Otherwise, the momentum could go downward.
Resistance: Immediate resistance is likely to be at $0.280. However, a stronger bullish push willl btreak above that mark, and could test $0.300.
Support: The first support is likely to come at $0.234. A break below that level will invalidate the upside narrative. Also, extended bearish control could establish the second support at $0.214.
