With a bullish start to the week, the HBAR price continues rises to challenge the next crucial psychological barrier and teases a breakout trend. With increased breakout chances, the HBAR price may soon siren an entry signal for interested players.
Moreover, the ongoing rally comes with the double bottom breakout in the daily chart that marks a significant bullish development for Hedera. Therefore, the HBAR price prediction remains optimistic for this year and teases a strong recovery.
Source- TradingView
Starting at $0.085 this Monday, the HBAR price has jumped by 10.86% to currently trade at $0.0951. However, this comes with an intraday loss of 2.07% which forms a shooting star candle, reflecting an overhead barrier.
The struggling buyers fail to overpower the supply present at the psychological barrier of $0.10, leading to an intraday pullback. However, due the ongoing streak of higher highs and higher lows, the pullback seems normal and may shortly bounce back higher.
Moreover, the increased support from the overall market recovery with Bitcoin reaching $45K, and the rise in trading volume projects a potential bull run. For sideline traders, the breakout of the $0.10 mark will be the HBAR price action signal for entry.
Technical indicator:
MACD indicator: The MACD and signal lines are indecisive are they have provided multiple crossovers in a short period. However, the ongoing recovery adn the positive crossover teases a bull run in Hedera.
EMA: The bullish trend in the 50D and 200D EMA sustains their path and remains strong dynamic support.
Will HBAR Price Rise Above $0.10?
After the double bottom breakout and the increasing momentum of market recovery, the HBAR price trend is looking very bullish. With buyers expecting a run to $0.10, our analysis suggests a potential retest before the bull run. If buyers can’t keep up the recovery momentum, the correction trend could drop to $0.060.
Source: https://coinpedia.org/price-analysis/hbar-price-jumps-to-0-10-will-buyers-prolong-this-ride/