Hedera (HBAR) price has displayed a bullish rally on a wider time frame. It has advanced by 660% since November.
After a massive bull run, The price displayed a correction phase in December. However, the price has managed to defend the 20-day EMA and has surged by 33% in just three days.
HBAR price broke out from the bullish candlestick pattern on the daily time frame. Analysts are eyeing a bullish rally after this correction phase. They expect a new all-time high (ATH) amid this bull run in 2025.
Hedera Price on the Verge of Breakout: Can Bulls Make it Big?
World Of Chart is a crypto page on X that shares cryptocurrency analysis. The analyst showed that the HBAR price has triggered a breakout from a bullish flag pattern in a 4-H time frame. The breakout has come after two weeks of consolidation.
Source: X
If the breakout succeeds, the HBAR price would remain bullish for the next few months. Analysts believe that Hedera crypto price has the potential to gain 40-50% on the back of this bullish momentum.
HBAR Price Shaped a Falling Wedge Pattern
Hedera crypto was trading at $0.311 at press time, it dove 5.21% over the past 24 hours. The market capitalization was $11.09 Billion and the 24-hour trading volume was $2.02 Billion.
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The price produced a falling wedge pattern on the daily time frame. However, the HBAR crypto price has triggered a breakout and displayed a decent move.
COINBASE: HBAR/UAS 1-D Chart | Source: TradingView
If the price manages to sustain above the 20-day EMA, it could invite buyers. If the cryptocurrency market remains bullish, it may leave a positive impact on the Hedera price. If bulls remain strong, it could lead to a strong bullish trend further.
On the other hand, if the breakout fails, the buyers might get trapped and may lose the assets. If the price starts trades below the 20-day EMA, bearish momentum might be triggered. Here, most investors and traders might prefer to book profit which could lead to heavy selling.
Turning to the technical indicators, the MACD and Signal line are in positive territory and showing recovery. The histograms are flipping to green, showcasing the bullish forecast.
HBAR Price Prediction Based on Chart
Hedera has shown strong potential for recovery following a significant price correction, gaining 33% over the last three days and maintaining its position above the 20-day EMA. Analysts remain optimistic, predicting a bullish trend that could lead to gains of 40-50% if the current momentum continues.
The recent breakout from the falling wedge pattern indicates a favorable outlook, provided HBAR can sustain its position above key support levels. However, if the breakout fails and the price falls below the 20-day EMA, bearish sentiment may arise, leading to potential profit-taking by investors.
Overall, the technical indicators suggest a bullish forecast, but careful monitoring of price movements is essential to navigate the risks in the cryptocurrency market.
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