HBAR Price Prediction: Will Hedera Break Resistance and Hit $0.465?

HBAR Price Surge: Can Hedera Reach $0.465 in the Near Future?

HBAR Price Prediction – The overall sentiment in the cryptocurrency market seems to be recovering impressively, and Hedera [HBAR] appears poised for a 22% gain. According to AMBCrypto’s analysis, HBAR has already surged over 8% in price, drawing significant attention from both traders and investors.

Massive Outflows Indicate Bullish Sentiment

Recent data from on-chain analytics firm Coinglass reveals that exchanges have seen a massive outflow of $13.9 million worth of HBAR in the past 24 hours. This indicates strong bullish sentiment among long-term holders, suggesting that they are moving their assets from exchanges to their wallets in anticipation of future price increases. The outflows reflect a potential accumulation phase, which could create significant buying pressure and drive the price higher.

Short-Term Traders Show Bearish Sentiment

On the other hand, the sentiment among intraday traders seems more bearish. The Long/Short Ratio for HBAR stood at 0.89 at press time, signaling that most traders are holding short positions. Data showed that 53% of top traders were betting against the asset, while 47.2% held long positions. This discrepancy between investors and traders highlights a divergence in sentiment, with investors remaining bullish while traders appear to be more cautious.

HBAR Price Prediction: Bullish Momentum Continues

At press time, HBAR was trading around $0.364, having surged more than 8.5% over the past 24 hours. Trading volume has also spiked by 60%, indicating growing interest from both traders and investors. After successfully breaking out of a bullish symmetrical triangle pattern, HBAR faced mild resistance near $0.378. However, the formation of a green candle and a bullish engulfing pattern signals continued upward momentum.

Based on historical price momentum, if HBAR manages to breach the resistance at $0.378 and closes a daily candle above this level, the asset could experience a 22% rally, potentially reaching its all-time high of $0.465 in the near future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.