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HBAR Breaks Critical $0.37 Level As Expert Hints at Historic ETF

HBAR

HBAR
  • HBAR has broken the 0.61 Fibonacci level, suggesting potential for further upside.
  • Analyst James Seyffart predicts that an HBAR ETF will be the first spot ETF approved in 2025.
  • HBAR’s recent price surge has generated significant investor interest.

Hedera Hashgraph’s native token HBAR is on the cusp of a potential bullish breakout. The token has successfully broken above the 0.61 Fibonacci level, a key technical indicator. If the daily candlestick closes above the $0.37 level, it could signal a significant uptrend.

Technical analysts are closely watching HBAR’s price movement, with many predicting a potential surge towards the 0.78 Fibonacci level at $0.46. A successful break above this level could drive HBAR towards its all-time high (ATH) of $0.57.

HBAR

HBAR was in a prolonged downtrend followed by an explosive upward move. Altcoin Sherpa’s recent chart points out how this extended consolidation led to capitulation among investors. This eventually sets the stage for a strong upward price movement. Such insights can serve as an excellent educational tool for understanding the impact of capitulation on price movements.

HBAR

Nevertheless, this resurgence has caught the attention of investors, particularly in light of recent statements by James Seyffart, a respected ETF analyst at Bloomberg Intelligence. Seyffart has predicted that an HBAR ETF will likely be the first spot ETF approved in 2025. This positive outlook from a prominent industry figure has further fueled investor enthusiasm for HBAR.

Investor Considerations for Investing in HBAR

While the current price action and analyst predictions are bullish, it’s important to remember that cryptocurrency markets are highly volatile. Investors should conduct thorough research and consider their risk tolerance before investing in any cryptocurrency.

  • One should first consider setting alerts for a daily close above $0.37, as this could signal a significant breakout.
  • Secondly, use the 0.78 Fibonacci level at $0.46 as a potential profit target.
  • Analyze the RSI for further confirmation of the uptrend and potential divergence.
  • Keep an eye on news and developments regarding the potential approval of an HBAR ETF.

By following these tips and staying informed about the market, investors can potentially capitalize on the bullish momentum of HBAR. However, it’s crucial to remember that investing in cryptocurrencies carries inherent risks, and there is no guarantee of profits.

Lipika Deka

Lipika Deka