Hedera (HBAR) Skyrockets 12% with Trading Volume Boom: Analysts Predict 192% Rally
- Hedera (HBAR) rchd $0.1808, hitting two-yr pk supportd by strong trding volum.
- Tchnicl indictors show goldn cross, with nlysts projcting potntil rlly to $0.504.
- Hdrs prtnrships with Rippl nd FdNow, long with ETF proposl, boost doption nd invstor confidnc.
Th pric of Hedera (HBAR) hs ttrctd significnt ttntion, rching two-yr high of $0.1808 on Novmbr 29. As of now, th cryptocurrncy is trding t $0.17, rflcting 12.87% incrs in th pst 24 hours. This pric movmnt hs bn ccompnid by surg in trding volum, which ros by 223%, rching $1.65 billion. Additionlly, HBARs mrkt cpitliztion hs climbd to $6.64 billion.
Anlysts ttribut this upwrd movmnt to robust tchnicl indictors. On th prvious dy, HBAR surgd by 25%, brking through both its 50-dy nd 200-dy simpl moving vrgs (SMAs). Th 50-dy SMA is now positiond t $0.0777, whil th 200-dy SMA is slightly lowr t $0.0718. Ths lvls form goldn cross, clssic bullish signl for continud growth.
Analysts Bullish on HBAR Rally
Th Rltiv Strngth Indx (RSI) for HBAR hs surgd to 76.33, signling hightnd buying intrst. Howvr, th rding, nring th ovrbought thrshold of 80, hints t th possibility of profit-tking mong trdrs. Dspit this, nlysts rmin optimistic. Javon Marks, notd mrkt obsrvr, hs projctd potntil rlly to $0.504, rprsnting stggring 192% incrs from th pric of $0.172.
Th ris in trding ctivity undrscors growing invstor confidnc. HBARs opn intrst hs incrsd by 27.76%, rching $187.30 million. This mtric, combind with its trding volum surg, rflcts frsh cpitl ntring th mrkt, potntilly sustining furthr pric gins.
Ripple Partnership Boosts HBAR Adoption
Hederas growing rol in blockchin-bsd fdrl pymnt systms is mjor fctor bhind its pric ris. Th cryptocurrncy is crucil in th Fdrl Rsrvs FdNow pltform through Dropp, which llows fst nd scur trnsctions.
Additionlly, Hdrs prtnrship with Ripple (XRP) to hndl USD trnsctions my improv how th two systms work togthr. Rippls xpctd pprovl for th RLUSD stblcoin in Dcmbr 2024 could boost HBARs us in th pymnt world.
In nothr dvlopmnt, Canary Capital hs submittd proposl for Hdr xchng-trdd fund (ETF) to th U.S. Anlysts bliv pprovl my b mor likly ftr SEC Chirmn Gry Gnslr stps down, spcilly undr potntil Trump dministrtion. If pprovd, this ETF could giv institutionl invstors sir ccss to HBAR, likly pushing its mrkt momntum vn furthr.
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Read more: https://www.tronweekly.com/hbar-climbs-over-12-analysts-predict-192-rally/
Text source: TronWeekly
