HBAR Price Sees 5.25% Surge Amid Broader Crypto Market Bounce
Hedera Hashgraph's native HBAR token has seen a significant price increase of 5.25% on Friday, as the broader crypto market sees a bounce back. This comes as Bitcoin (BTC) approaches $80,000 for the first time in months.
Crypto analyst Gopal notes that the prolonged consolidation period for HBAR concluded with its price trend break from $0.072 to $0.076 on one-day charts. He identifies a double bottom figure on HBAR's one-day charts, with $0.07 acting as key support.
Gopal aims at $0.40 as the highest breakout target from this structure and sees confirmation in the $0.21-$0.22 range. If the neckline breaks, the $0.40 target remains intact, but a price reversal to the late 2025 rally would need to happen first.
The Parabolic Stop & Reverse (SAR) metric also delivers a 'buy' signal on HBAR charts, while the Chaikin Money Flow (CMF) flashes positive levels in nearer time-frames. However, the SuperTrend places a 'green label' which HBAR bulls need to beat for bullish confirmation.