according to the site materials - By CoinoMedia
The native token of Hedera Hashgraph, HBAR, has just confirmed the formation of a golden cross - a technical pattern that occurs when the 50-day moving average crosses below the 200-day moving average. This event is often seen as a strong indicator of a long-term bullish trend.
Market sentiment quickly turned positive after the signal emerged: traders noted an increase in momentum and activation of buyers. The golden cross indicates that the recent upward trend of HBAR may have much more room to grow, especially if trading volumes continue to rise.
Why this is important for HBAR's price forecast
In technical analysis, the golden cross is one of the most popular bullish indicators. It often precedes significant rallies as it reflects a change in market structure from bearish to bullish. For HBAR, this occurs during a period of increasing interest in the Hedera ecosystem, with new projects and partnerships driving its adoption.
Some analysts believe that the historical maximum of 2021 (ATH) around $0.57 may be reached sooner than expected. However, many optimistic traders believe that this level may just be a checkpoint before testing higher targets, given the current momentum.
If HBAR can hold above recent support levels and maintain strong buying pressure, the next major resistance zone will be near its ATH of 2021. A confirmed breakout of this point could pave the way for a prolonged rally.
As with any cryptocurrency movement, traders are strongly advised to manage risks and watch for potential pullbacks. While golden crosses are historically a bullish trend, they are not infallible and can sometimes be accompanied by short-term corrections before the trend resumes.
#MarketRebound , #Сryptomarketnews
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