This Trader Makes a Shocking Hedera (HBAR) Price Prediction – Top Crypto to Buy?

The Hedera price did fairly well during the recent market crashes. HBAR dipped around 50% from its local high at $0.375 that was set in January.

The Hedera price (CRYPTO: HBAR) has done relatively well during the recent market crashes. HBAR is currently down around 50% from its local high of $0.375 that was set in January.

Most other altcoins are down way more than 50% so HBAR might be performing reasonably well in comparison, but what's next?

Well, one trader thinks that HBAR could continue to rally massively from here and reach the $5 price level.

HBAR Chart Analysis

The HBAR chart highlights a strong resistance zone around the $0.26 – $0.30 range, which has acted as a point of contention and a distribution area where price faced rejection multiple times.

Similar resistance patterns were seen in early 2021 and mid-2021 with both leading to big downward corrections.

The HBAR price is currently trading at $0.195, struggling to break into the resistance zone despite a decent rally.

If HBAR can manage to break through and hold above the $0.26-$0.30 resistance, it could follow Bitcoin's past pattern and enter price discovery mode. A decisive weekly candle close above resistance would be a bullish confirmation signal for traders. However, with the current low volumes on the market, this doesn't seem likely.

$HBAR chart giving me #Bitcoin pre-$70K breakout vibes!!Send it #Hedera🤝$5

The RSI indicator appears to be nearing overbought levels, suggesting that a correction or consolidation may be needed before a potential breakout. There was a noticeable increase in trading volume as price approached resistance, and the 50-week moving average (shown by the green line) is trending upwards, supporting the overall bullish momentum.

If a rejection occurs at the resistance zone, key support levels to watch would be the $0.15 – $0.16 range, which served as a previous consolidation area, and the $0.12 – $0.14 zone, which has historically been a strong demand area.

(Un)Realistic HBAR Price Prediction

The tweet suggests that HBAR's current price action resembles Bitcoin's breakout past $70K. Before Bitcoin's massive move, it faced multiple rejections at the $60K-$70K resistance. Once it finally flipped this area to support, it entered price discovery mode and reached new highs.

HBAR appears to be at a similar stage, attempting to break above a key multi-year resistance level. If HBAR follows Bitcoin's structure, we might see a breakout above $0.30, followed by a retest of the resistance as support, potentially leading to an exponential price surge toward new highs.

The tweet includes "$5" as a target, which seems extremely bullish. If the Hedera price were to reach $5, that would represent a 2,500% increase from its current price of $0.195. Such a move would likely require significant adoption of Hedera's network, strong overall conditions in the altcoin market, and a major parabolic bull run similar to those seen in previous market cycles.

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