HBAR Price Surged 130% in 3 Days & Reached ATH: Can It Hit $1?

• The Hedera price has surged by over 600% in the past 26 days.
• The trading volume has increased by 91% to $7 Billion.
• HBAR’s price has recorded a new all-time high (ATH) of $0.392.

Hedera (HBAR) price has performed exceptionally well for the past few weeks. It has escalated by 785% since November. Amid this bull run, the HBAR price recorded a new ATH of $0.392 today (Dec 03).

In mid-November, the price triggered a breakout from the 200-day EMA, which resulted in massive buying. In the last 2 weeks of November, the Hedera price has displayed a short-term accumulation phase.

However, the price has departed from this territory and has shown a strong bullish rally. Let’s analyze its further forecast based on chart structure.

Has the downtrend in Hedera Price come to an End?

Altcoin Sherpa is a crypto analyst who believes holding the HBAR crypto could be a good decision. The price has erased 1000+ day losses in just a few days.

By seeing this bullish rally, the chart structure suggested that the bearish trend had ended. The HBAR price will remain bullish for the next few weeks or months.

Technical Analysis of Hedera Price Over 1-D Timeframe

When writing, the HBAR crypto was trading at $0.344. That has advanced by 36.33% over the past 24 hours. The market capitalization was $13.15 Billion, and the 24-hour trading volume was $7.00 Billion.

Based on the chart, the price has managed to defend the crucial level of $0.120 in the last week of November. Strong buying pressure was also received, and a skyrocket move was seen.

Suppose the HBAR price manages to hold over the $0.300 mark; buyers might be confident. Defending this level could attract bulls, which might further drive the trend.

Once the price starts trading over the $0.500 hurdle, buyers may lift the price to the psychological level of $1. Here, rising trading volume could work as a catalyst.

On the other hand, buyers might panic if the crypto asset price fails to defend against the $0.300 lens. Most traders and investors might prefer to book profits if panic selling occurs. That may lead to strong selling pressure.

The HBAR crypto will melt to the $0.200 territory amid the profit booking. Turning to the technical indicators, the MACD and the Signal line stayed over the Zero line.

The histograms have remained green, which demonstrates the buyers’ grip. RSI has triggered a golden crossover with the RSI-based moving average and wandering in the overbought zone.

HBAR Crypto Price Analysis and Forecast

HBAR’s recent price surge includes a remarkable 785% increase since mid-November and a new all-time high of $0.392. That reflected strong buying momentum and market interest. The significant rise in trading volume indicates heightened participation from traders.

If the HBAR price can maintain its position above the $0.300 mark, it may continue to attract bullish sentiment. This could push the price toward the psychological milestone of $1 as buyers step in.

However, a failure to defend this critical support level could lead to increased selling pressure and a decline toward the $0.200 range. Technical indicators favored further upward movement. Although, market dynamics will ultimately dictate the next steps for HBAR investors.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.