HBAR Surges 44% in 24 Hours: Bullish Momentum Signals Potential for Further Growth
Hedera Hashgraph (HBAR), a standout cryptocurrency during the 2021 bull market, has surged by 44% in the past 24 hours, reaching $0.2453 with a 22% daily gain. Over the past week, HBAR has climbed 68.71%, supported by strong upward momentum. Its market cap rose to $9.37 billion, a 22.57% increase, alongside a 180.09% spike in 24-hour trading volume to $3.61 billion. A volume-to-market cap ratio of 38.89% highlights heightened activity, with further acceleration likely if HBAR holds above $0.25 weekly.
Technical Indicators Show Bullish Potential
- RSI: At 84.69, well into the overbought zone, indicating potential for short-term consolidation or pullback.
- CMF: At 0.21, reflecting strong buying interest and significant capital inflows.
- Golden Crossover: The 50-day moving average recently crossed above the 200-day moving average, signaling long-term bullish potential.
Key Support and Resistance Levels
- Support: Strong support lies at $0.200, with further backing at $0.150 if a pullback occurs.
- Resistance: Immediate resistance is at $0.260, and a breakout above this level could propel the price toward $0.300.
Outlook
HBAR’s combination of an overbought RSI and a strong CMF suggests cautious optimism. While short-term consolidation is possible, the long-term trend remains bullish, supported by the golden crossover. Investors should watch for a breakout above $0.260, which could drive further gains, while pullbacks may offer buying opportunities at lower levels.
HBAR’s explosive growth and positive technical signals position it as a strong contender for continued upward movement, reinforcing its potential as a top-performing cryptocurrency.
