Altcoins, Cryptocurrency, Economy, News, Price Analysis, Signals

Hedera Hashgraph Recovers FTX-Induced Losses; HBAR Ready for 30% Rally

  • HBAR’s price annulled its upside yesterday, dropping to explore the $0.063 price mark.
  • Buying momentum revival will kick-start the upside and push the alt toward the crucial resistance near $0.076.
  • Losing the closest support will make HBAR vulnerable to dips toward $0.049, below which we can expect bullish invalidation.

Hedera Hashgraph (BHAR) is among the few digital coins globally to recover losses that FTX’s collapse induced during the November 2022 session. The alternative token remains primed for more upsides as long as it retains its latest growth.

HBAR Price in Dilemma

HBAR’s price hovers beyond its closest support barrier of $0.063, changing hands at the $0.064 zone. Hedera Hashgraph has posted green candlesticks since early on the month, recording a nearly 100% surge within three weeks to explore $0.072 some days ago.

Considering the enthusiasm, the latest drop could have materialized for a break after the rally. That would show Hedera Hashgraph has more chance to soar. In that context, bulls should back the token’s revival and push the prices past the $0.069 resistance.

The golden cross that emerged on HBAR’s charts following 50day EMA’s crossing beyond the 200day Exponential Moving Average persists. That confirms HBAR retains its bullish stance, translating to more room for upsides toward the crucial resistance of $0.076.

Nonetheless, a flip of $0.069 to support is essential for the rise. An impressive upside to breach the mark would clear the road for uptrends toward $0.084, leading to a 30% surge.

However, market participants should beware that the candles have already dipped beneath the closest support zone. Any further dip would drag Hedera Hashgraph lower to hit the $0.056 price handle.

Maintaining this crucial support is essential for the alternative token to retain its November 2022 revival. Nonetheless, a 24hr candle closing under this mark would cancel the bullish tale, forcing the alt to fall toward $0.049. HBAR seems ready for impressive upsides, targeting a 30% surge.

That comes after the alternative coin recovered from the FTX-induced fall, which had many cryptos deteriorating since November last year. Nonetheless, retaining the nearest support remains essential to avoid declines to $0.049, under which we may forget the discussed bullishness.

Leave a Reply

Your email address will not be published. Required fields are marked *