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As the bull run in the Hedera (HABR) token hits $0.15, the rally targets an extension to $0.35 for a new 52-week high.
With a price jump of 150% over the last seven days, Hedera’s market cap has reached $5.452 billion. HBAR trades at $0.1445 at press time, with a 24-hour surge of 16.17%.
Will the bullish trend in HBAR price result in a new 52-week high this November? Let’s analyze the current price trend to determine the next potential target levels.
HBAR Price Analysis
On the daily chart, the HBAR token shows a massive V-shaped reversal rally, inching closer to its 52-week high. Starting from a low of $0.04159 earlier this month, HBAR’s bull run has propelled its price by 245% in the last two weeks.
The bullish turnaround is challenging the 100% Fibonacci level at $0.1567. The intraday candle shows a potential doji formation following last night’s massive 60% surge.
Over the last five days, it has made consecutive bullish candles, accounting for a nearly 150% surge. The bullish momentum has resulted in a positive crossover between the 50-day and 100-day EMA lines. Furthermore, it has increased the chances of a golden crossover between the 50-day and 200-day EMAs.
The MACD and signal lines show extremely bullish histograms, supporting the bullish trend and reflecting strong momentum. As a result, the technical indicators are signaling a buy for Hedera.
Will Hedera (HBAR) Price Cross $0.25?
Speculation about a potential partnership between Hedera Hashgraph and SpaceX’s ambitious blockchain mission is fueling the HBAR/USD rally. As Hedera aims to play a key role in satellite payments, the bullish momentum in HBAR appears to be gaining strength.
Based on the Fibonacci levels, the continuation of the uptrend suggests price targets of $0.2249 and $0.355. This represents a potential 145% extension from the current market price.
On the other hand, a pullback could see the price retesting $0.1180 or the 78.60% Fibonacci level.