CandleFocus Hedera (HBAR) 250% Bull Run Continues, Eyes $0.20 Target with Flag Pattern
2024-11-29
Author: Content Editor
The article discusses the recent strong performance of cryptocurrency Hedera (HBAR). The price of HBAR has risen by 7.12% in the past 24 hours and nearly 15% over the past week. It is approaching a $6 billion market cap and has shown a bullish reversal on its price trend. It has surpassed the 50% Fibonacci level and broken a long-resistance trend line. The MACD indicators and EMAs suggest a positive trend reversal. In the short-term, a rising channel pattern is forming, with the price approaching the 23.6% Fibonacci level and immediate resistance at $0.16237. The article suggests that the price trend indicates significant upside potential, with targets at $0.197 and $0.230. However, a turnaround from the 23.6% Fibonacci level could dampen the bull run and potentially retest $0.1186.
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