Hedera Price Predictions: Will the Golden Cross Push HBAR to Exceed $0.3?
HBAR Price Jumps 20% in Just 7 Days!
Hedera Hashgraph (HBAR) has seen a remarkable increase, rising more than 21% over the past week and successfully retesting the $0.20 level.
This breakout from the long-term consolidation range since the beginning of the year is a strong signal of an upward trend.
Technical indicators support this bullish momentum.
The 50-day and 200-day exponential moving averages are nearing the formation of a 'Golden Cross' on the daily chart, a pattern often associated with sustained upward price movements.
Additionally, the Relative Strength Index (RSI) is steadily approaching the overbought territory, indicating increasing buying pressure.
Will Hedera's price rise?
If HBAR maintains its upward trajectory and surpasses the immediate resistance at $0.20, it may target the next resistance levels at $0.25 and possibly $0.30 in the near term.
However, in the event of a negative reversal, the price could retreat to support levels at $0.15 or even $0.12 if selling pressure intensifies.
