Hedera Hashgraph’s native token HBAR has experienced an 11% price surge in the last 24 hours, reflecting a growing demand for the token. Technical analysis indicates that HBAR may see further gains, with key price levels to watch for. Despite a recent pullback, the price of HBAR has remained above the Super Trend indicator at $0.23, suggesting strong support at this level. The Super Trend indicator tracks the direction and strength of price trends, signaling bullish momentum when the price is above the line.
Additionally, the rising Chaikin Money Flow (CMF) for HBAR indicates a sustained rally may be on the horizon. A positive CMF during a price rally suggests strong buying pressure and actual accumulation, supporting the price rally and increasing the likelihood of an uptrend. The Fibonacci Retracement tool predicts that HBAR’s price may revisit its three-year high of $0.39 and surpass it with continued accumulation. However, if selloffs resume, the price could decline towards $0.24, with potential further support at $0.23 and $0.16.
It is important to note that this price analysis article is for informational purposes only and should not be considered financial or investment advice. Market conditions can change quickly, so it is crucial to conduct your own research and consult with a professional before making any financial decisions. BeInCrypto is committed to accurate and unbiased reporting, but readers should always stay informed and aware of potential risks in the market.
