Hedera Token HBAR Surges Past Recent Lows as Market Cap Hits $5.4 Billion

The Hedera token, HBAR, has been showing strong signs of recovery against both the U.S. dollar and Bitcoin. After a long period of weak price action, HBAR's market cap has climbed to $5.4 billion as the token recovers from its recent lows.

Crypto analyst Credible Crypto pointed out that six months of downward and sideways price action had been erased within only a few days. The HBAR/BTC 3-day chart supports this view, showing a significant increase in value over a short period.

The next major levels for the BTC pair are 0.00000250, 0.00000350, 0.00000500, and 0.00000850 BTC. Above those levels, the major resistance shown on the chart remains at 0.00001204 BTC.

While the setup remains bullish, momentum is starting to look stretched after the recent rally. The moving averages support the bullish structure, but the RSI readings are in overbought territory, leaving room for consolidation or a pullback before another move higher.