CandleFocus HBAR Poised for 20% Rally, Chart Flashing Buy Signal
2025-02-28
Author: Content Editor
Summary:
The native token of Hedera, HBAR, is poised for a rally as it has broken out of a bullish price pattern. The asset has reached a crucial resistance level of $0.20 and is currently trading near $0.21, gaining over 6.5% in the past 24 hours. The upside momentum has resulted in a 70% increase in trading volume. Technical analysis suggests that if HBAR closes above $0.21, it could soar by 20% to reach $0.25. Traders and investors are accumulating tokens, indicated by the outflow of $2.50 million worth of HBAR from exchanges. Both long and short-term traders are betting on the bullish side, with an over-leveraged level at $0.1999 for long positions and $2.18 for short positions. With these factors combined, it suggests that bulls are currently in control and HBAR could see a significant increase in value.
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