CandleFocus Hedera’s HBAR momentum has just began, analyst says
2024-11-15
Author: Content Editor
Hedera Hashgraph (HBAR) experienced a significant increase in price, reaching its highest level since July 17. A popular crypto analyst believes that HBAR's upward trend has just begun and that it could surge to its year-to-date high, which is 182% higher than the current level. The rising volume and the recent application for a spot ETF by Canary Capital are seen as potential catalysts for HBAR's growth. Additionally, the futures open interest for HBAR has been increasing, indicating strong demand. However, Hedera Hashgraph still faces challenges, such as a small ecosystem compared to other blockchains. Despite this, the coin's price has rebounded and formed a bullish double-bottom pattern, suggesting a bullish trend. The next psychological level to watch for HBAR is $0.10, with a stop-loss set at $0.055.
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