HBAR Price Ready to Rip? Hedera's Buy Wall Signals a Gigantic 200% Pump as Solaxy Eyes $30 Million

The Hedera price had a sluggish performance in the last 30 days with around 11% lost in value, now trading below $0.20.

The cryptocurrency markets have begun the week slowly, with Bitcoin (BTC) price remaining around $70,000 for the past 24 hours. Nonetheless, some altcoins are showing promising signs of recovery. Among them is Hedera, which might be gearing up for a 200% price move.

HBAR price could be setting up for a 180% move

As shared by crypto analyst ‘CW,’ HBAR price has formed a descending wedge pattern, which could signal an upcoming breakout. The chart also highlights a strong buy wall in the $0.15-$0.18 zone, where buyers are expected to exert pressure if the price drops further.

At present, HBAR is trading at around $0.19 on Binance, where it has seen a nearly 4% decline for the day. The technical analysis indicates that the cryptocurrency is still within a defined support band, ranging from $0.15 to $0.18, which acts as a buffer against any significant downward movement.

If the price drops to the support level, it is anticipated that a large volume of buy orders will be triggered, potentially leading to a rapid price increase. Conversely, if the sellers push the price above the resistance levels at $0.30-$0.32 or $0.40-$0.45, the selling pressure is expected to diminish.

A breakout above the upper boundary of the wedge pattern could propel HBAR towards the next resistance zone, located in the vicinity of $0.55. However, for a sustained rally of this magnitude, the trading volume during the breakout phase would need to be substantial to support the upward momentum.

Solaxy presale hot on new all-time highs

Solaxy’s presale is one of the hottest events in crypto right now, as it has raised over $27.3 million and is close to hitting $30 million. The token price is currently $0.00167, but it goes up every 48 hours.

For comparison, Ethereum's layer-2 project 'Pepe Unchained' saw its price jump 8x after launch, and it raised over $60 million in its presale.

Solaxy helps solve Solana's network congestion by moving transactions to a second layer, which makes transactions faster and cheaper. It also connects Solana and Ethereum, letting users move assets between both networks easily.

The project takes most transactions off Solana's main chain to prevent slowdowns during busy times. It bundles multiple transactions together to cut costs. Its bridge between Solana and Ethereum combines Solana's speed with Ethereum's large user base.

Solaxy also has tools that spot potential network problems before they cause issues. The team focuses on keeping the system secure while staying true to crypto's decentralized nature. They use audits and strong security measures to protect users.

Solaxy could become an important crypto project in 2025 and beyond. The official launch is planned in a few weeks. Until then, you can buy SOLX tokens at a lower price through their presale page.