Will HBAR Price Rally to the YTD highs?

Hedera price prediction is bullish and suggests a significant rise is possible in the long run. HBAR price is in recovery mode and showing signs of a bullish trend reversal. 

Hedera price managed to climb above the 50-day EMA showing the short trend has reversed in the upward direction. Buyers are attempting to break the 200-day EMA. If they succeed then the positional trend will also turn upward. 

HBAR crypto price is recovering by forming higher high swings. It shows the bulls are active and returning back to track. 

Hedera crypto witnessed a spike in the buying volume and price also followed the upward direction. It indicates some genuine investors are accumulating the crypto from the lower levels in an expectation of decent returns. 

Hedera price is trading at $0.0581 with an intraday rise of 2.65%. The 24-hour volume to market cap is 5.02%. 

The pair of HBAR/BTC is trading at 0.00000201 with an intraday rise of 3.36%. The price chart of this pair is also recovering and buyers seem to be active in both the pairs. 

Will Hedera Price continue the recovery?

Hedera price prediction suggests crypto reversing upward from the demand zone and more upward momentum is possible. 

The crypto leader BTC Price defends the $29K level and shows signs of recovery. It might improve the overall market sentiment and may positively impact the prices of Altcoins. 

Till HBAR crypto price sustains above the 50-day EMA the recovery is likely to continue. However, the price will pick up momentum when buyers are able to break the $0.0600 hurdle. 

The technical analysis suggests HBAR price is bullish and the pullback rally is expected to continue in the coming months.

HBAR Crypto Price Analysis on Weekly Time Frame

HBAR crypto price forming a bullish candle on the weekly time frame. If the price continues the recovery then EMAs might display a golden crossover. It will further boost the confidence of the long-term investors. 

The MACD curve sustains above the zero line and slopes indicate prices are likely to trade with a bullish bias. The RSI at  66 slopes upwards denoting the strength of bulls and more room for upside is open.

Conclusion

Hedera price prediction remains bullish and suggests the recovery is likely to continue in the coming months. 

The technical analysis suggests, HBAR price is bottomed out and reversing upward from the demand zone. Therefore, the downside risk is limited and the price might rally toward the YTD highs.

Technical levels

• Resistance levels: $0.0655 and $0.0777
• Support levels: $0.0500 and $0.0400

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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