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Hedera gains 15% – Why THIS range could be HBAR’s next hurdle
HBAR has recorded a remarkable 15% price gain in the last 24 hours, sending shockwaves through the cryptocurrency market. This surge is driven by whale accumulation and rising buyer strength in both spot and futures markets. However, experts warn that this recent rally may be met with resistance at the $0.21-$0.29 range.
The surge in HBAR’s price can largely be attributed to the accumulation of whales. AMBCrypto’s analysis reveals a new wave of these large-scale investors entering the market since the beginning of Bitcoin’s bullish run. History shows that such optimism by whales often precedes positive price action.
On a more granular level, trading activity is witnessing an uptick in both spot and futures markets. Key exchanges are witnessing buyers dominating over sellers, indicating an overwhelmingly positive sentiment shift in the market. This harmonious alignment between spot and derivatives markets is strengthening the ongoing rally and increasing its likelihood of sustaining momentum.
Looking ahead, HBAR faces a critical juncture as it approaches the $0.21-$0.29 resistance range. Previously, this area saw rejection during the consolidation phase of a triangle pattern. However, with the recent bullish breakout from this pattern, HBAR bulls may push through this barrier and propel the price towards new highs.
In addition to these technical dynamics, key indicators are shifting into bullish territory as well. Investors must be cautious about potential sell pressure spikes in the near term, particularly from short-term holders seeking profits.
As Hedera’s network usage and ecosystem participation continue to rise, it seems that momentum for HBAR is poised to continue its upward trajectory. However, the next few days will be crucial in determining whether this rally has staying power or not.
Source: ambcrypto.com
