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HBAR Price Confirms Textbook Pattern, Will It Thrive On ETF Narrative?

Author: Content Editor
Technical analysts believe that Hedera (HBAR) has confirmed breakout patterns that indicate its price recovery could continue. The breakout target is predicted to be around $0.504, which would be a 75% upside from its current price. Analysts also suggest that if HBAR breaks through and holds above the resistance level of $0.504, there is potential for over 90% gains with a target of $0.962. However, HBAR's price momentum has been quiet, possibly due to the lack of response to the Grayscale announcement about filing an ETF focused on HBAR. Currently, HBAR is trading at $0.279 with a market cap of $10.68B and a fully diluted valuation of $13.96B. The price action suggests a breakout from a descending trendline, and the first significant step on the road to recovery lies at the target of $0.504. The Money Flow Index suggests HBAR may be in a neutral to oversold condition, potentially leading to renewed buying pressure. The price trajectory will depend on short-term resistance levels, and it is important to watch these levels closely as HBAR enters a critical period of its market cycle.

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