- Hedera Hashgraph broke a key level, showing signs of a significant price increase in the short term.
- The bullish flag pattern suggests $HBAR could see a rally, reaching a price range between $0.75 and $0.85 soon.
- Market analysts are closely watching $HBAR’s progress as its momentum builds and sets the stage for future price growth.
Hedera Hashgraph has broken out of a bullish flag pattern, pointing to a possible price rally of 50% soon. The breakout occurred on December 24, 2024, and was identified by the analyst “World of Charts,” who shared the chart showing this potential move.
Signals: World Of Charts
Strong Breakout from a Bullish Formation
The chart revealed $HBAR had formed a bullish flag, which is a common continuation pattern in technical analysis. This pattern developed after a strong price increase, followed by a period of consolidation within two descending trendlines. Such setups often signal a temporary pause before a trend continues.
$HBAR confirmed its breakout by moving above the upper trendline of the flag, which could drive a major price movement. The measured move technique suggests a potential rise of 40-50%, aligning with a target range of $0.75 to $0.85. This price range is considered achievable if the momentum continues in the same direction over the next few days.
Additionally, the breakout pushed $HBAR above a key resistance level that is now expected to act as support. This development increases the likelihood of further upward movement in the short term and solidifies the technical outlook for the asset.
Market Response and Predictions
The crypto community has shown enthusiasm for $HBAR’s breakout, with many traders discussing its potential to hit higher price levels. According to some interpretations of Elliott Wave theory, $HBAR could be entering its third wave. Historically, the third wave is the most extended upward movement in a series, which adds to the bullish sentiment around the token.
Some traders speculate that $HBAR could eventually surpass $1, though this depends on factors like market momentum and upcoming developments. The network’s reputation for enterprise adoption and efficient transaction speeds has helped boost its credibility among investors, driving additional interest in its market movements.
What Comes Next for $HBAR?
The breakout raises one key question: Will $HBAR sustain this momentum and reach its predicted target range of $0.75 to $0.85? The next few trading sessions will be essential as the cryptocurrency tests resistance levels while trying to maintain its current trajectory.
Traders and analysts are closely observing the situation, with some expecting continued growth if market conditions remain favorable. As $HBAR moves toward its target, its performance will likely influence sentiment across the broader cryptocurrency market.
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