HBAR Price Rally: Will HBAR Break Through the 50-Day SMA Line? Key Levels to Watch

HBAR Price Rally: Fibonacci Barrier and SMA Lines Under Threat

The bullish breakout rally is still being maintained by the HBAR price trend, despite a little decline in the cryptocurrency market. The altcoin is approaching the psychological $0.10 barrier after breaking over a long-coming resistance line. The HBAR token’s weekly chart displays a trendline breakout rally gaining traction. The trendline breakout, which peaked at $0.14, brings an end to the retreat phase that began in early 2024.

Can HBAR Break the 50-Day SMA and Challenge the 200-Day Line?

It is now making a second consecutive weekly bullish candle and is trading at $0.065. The HBAR price has risen by almost 60% over the past 12 days as the bullring gains strength. Due to higher price rejection from the 50-day SMA, the bullish reversal in the weekly chart is currently posing a threat to the 100-day SMA line. The 23.60% Fibonacci barrier at $0.133 is probably going to be challenged by a bullish breakout above the 50-day SMA line.

The MACD and signal lines show a positive crossover as the bullish influence increases, and the positive histograms are also resurfacing, which raises the likelihood of a bull run. A price spike over the 50-day SMA is probably going to put the 200-day SMA line in jeopardy if the upward trend persists. Conversely, the psychological $0.050 mark continues to be a significant support for the evolved coin.

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