CandleFocus

Hedera Hashgraph price rare patterns point to an HBAR rebound

The price of Hedera Hashgraph (HBAR) has declined along with other cryptocurrencies as the overall outlook for the crypto industry worsens. Hedera's retreat coincides with a decrease in the total value of assets locked in its decentralized finance ecosystem. However, despite the current downturn, Hedera Hashgraph has positive fundamentals, such as partnerships with major companies like IBM and Google, as well as its positioning in the Real World Asset tokenization industry. There is also the possibility of the SEC approving a spot HBAR ETF in 2025. The HBAR price is forming bullish chart patterns, indicating the potential for a rebound and retesting of the year-to-date high. However, if the price drops below the major support and resistance level at $0.20, the bullish outlook would be invalidated.

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