Published: January 19, 2025 at 3:02 pm
Updated on January 19, 2025 at 3:02 pm
HBAR just had a huge breakout, right? We’re talking about a 27% surge that left the consolidation zone behind and started trading at $0.35. Can it keep climbing? Well, let’s break it down.
In the past month, HBAR had settled into a range between $0.26 and $0.33. But this week’s buying pressure pushed it past that, triggering a bullish wave. Right now, it’s sitting above its 20-day Exponential Moving Average (EMA). If you’re into technical analysis, that typically means buyers are in control. The MACD also supports this – the MACD line is above the signal line, indicating a bullish trend.
Expert crypto traders are split on how long this rally can last. Bitcoin’s performance will play a huge role. But HBAR’s actual utility is also important. More tokens being released or changes in market cap could impact price too.
What really makes this interesting? Integrations like Chainlink. These partnerships might just reinforce the price and adoption of HBAR.
Everyone seems pretty positive, which is often a good sign. At least 69.9% of top traders on Binance are holding long positions. But you also need to keep an eye on the crypto exchange market.
The trading volume is off the charts, with over $2 billion changing hands in just one day. Strong volumes tend to indicate that there are more buyers than sellers.
As for short-term trading strategies, many resources indicate that it might just work. The 20-day EMA is a support level, and the overall sentiment from the ADX and Ichimoku Cloud is bullish.
HBAR’s breakout is certainly making waves. While the market seems to be backing this movement, being cautious is always wise. With Bitcoin’s influence and other upcoming events, the next few days should be telling.
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