Hedera Hashgraph Price Prediction: HBAR targets $0.10
|- Hedera Hashgraph price consolidates after rising 77% during January.
- HBAR could a rally and challenge the $0.10 liquidity zone
- Invalidation of the uptrend thesis could occur from a breach below $0.061.
Hedera Hashgraph price is still in an uptrend until further evidence is displayed. Traders should continue following the trend while maintaining healthy risk management.
Hedera Hashgraph price points higher
Hedera Hashgraph price maintains its bullish stance as a consolidated range is forming near the upper bounds of a newfound uptrend. The shallow pullback is a positive gesture that early buyers are holding on to their positions, and if the market is genuinely bullish, HBAR could be embarking on a much larger macro uptrend.
Hedera Hashgraph price currently auctions at $0.064, going on its 11th day of trading within a converging range after rallying 77% in January. At the time of writing, the scalable smart contract token auctions above both the 8-day exponential moving average and 21-day simple moving averages.
The Relative Strength Index, a commonly used indicator to analyze market behavior based on past rallies, suggests that the current range may be returning to a previous resistance level. Additionally, there are bullish divergences present between the lows of $0.061 on January 18 and the recent swing low on February 1, which was at $0.062.
Considering these factors, the Hedera price seems poised to rally higher. The bulls may be able to induce a rally towards the $0.10 zone, which would result in a 58% increase from HBAR’s current market value. The target zone is an untested liquidity level that dates back to Q4 2022 when HBAR fell from $0.10 into the $0.04 lows.
HBAR/USDT 1-day chart
The earliest signs of an uptrend failure potential would be a breach of the 21-day SMA marked as $0.061. A breach of this barrier could result in a steeper decline targeting the halfway point of the 70% rally. The bear scenario creates potential for a 30% decline targeting the $0.04 zone.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.