HBAR Price Prediction: Is a Sustained Rally on the Horizon?

Hedera’s HBAR has steadily increased in value over the past few days as broader market activity gains momentum.

The price of HBAR, the native token of Hedera, has seen a steady increase over the past few days as broader market activity continues to pick up.

Currently trading at $0.19, the token’s price is up 4% over the past week. As investor confidence grows, demand for the altcoin is also rising, hinting at the potential for further price appreciation in the near term.

HBAR’s attempt to break above its 20-day exponential moving average (EMA) highlights the growing bullish confidence toward the altcoin. This indicator measures an asset’s average price over the past 20 trading days, giving more weight to recent data and helping traders identify short-term trends.

When an asset’s price is poised to break above the 20-day EMA, it signals a potential shift from bearish to bullish momentum, indicating increasing buying pressure. If HBAR’s breakout is sustained, this would suggest that market sentiment is turning positive, leading to further price gains.

Moreover, a golden cross formation observed on HBAR’s Moving Average Convergence Divergence (MACD) further confirms the growing bullish momentum. As of this writing, the token’s MACD line (blue) rests above its signal line (orange).

The MACD is a momentum indicator that helps traders identify trend direction and potential reversals. When the MACD line crosses above the signal line, it forms a golden cross, indicating a shift in momentum toward a bullish trend. This suggests that HBAR’s increasing buying pressure could lead to a sustained price rally if macro factors remain favorable.

HBAR’s attempt to break above its 20-day EMA could strengthen the bullish pressure in the market and trigger an extended rally. In this scenario, the token’s price could climb to $0.24, representing a 26% uptick from its current value.

However, if HBAR traders commence profit-taking, this bullish projection would be invalidated. In that case, the altcoin’s price could reverse its current uptrend and fall to $0.16.