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Hedera (HBAR) Skyrockets 21% in Just One Day: Here Are the Details
In a surprising turn of events, Hedera’s (HBAR) price has skyrocketed by a staggering 21% within just one day. This unprecedented surge has sparked interest and excitement among cryptocurrency enthusiasts, with many wondering what could be driving this sudden growth.
While there is no specific news that can be directly linked to HBAR’s remarkable performance, analysts believe that the market’s overall positive sentiment is largely responsible for this uptrend. The possibility of an HBAR exchange-traded fund (ETF) receiving approval from the U.S. Securities and Exchange Commission (SEC) has also contributed to the optimism surrounding the cryptocurrency.
Notably, the SEC has not classified Hedera as a security, unlike other digital assets like Solana or Ripple. This development could potentially pave the way for an HBAR ETF to be approved, further boosting investor confidence and fueling its upward momentum.
From a technical perspective, HBAR’s price has formed bullish patterns such as a double bottom and a falling wedge, which could indicate a continued positive trend. Furthermore, the cryptocurrency has managed to stay above its 50-day moving average, indicating that buyers still dominate the market.
While some experts predict that HBAR may reach $0.40 in the short term, representing a 20% increase from its current level, they also caution that corrections could occur if specific support levels are not maintained. Key zones of concern include the $0.187 and $0.207 levels, which must be respected to prevent further declines.
Interestingly, some analysts have proposed that HBAR may potentially reach even higher values such as $3.27 if its upward trajectory continues, although this forecast is heavily dependent on market developments.
What do you think about Hedera’s sudden price surge? Do you believe the cryptocurrency has the potential to reach the predicted targets or will it encounter significant resistance along the way? Share your thoughts in the comments below!
Source: crypto-economy.com
