📈 Market Recovery Boosts $HBAR
The cryptocurrency market is showing signs of recovery, and Hedera (HBAR) appears to be capitalizing on this momentum. HBAR has surged over 8% in the past 24 hours, catching the attention of traders and investors alike.
💰 $14M HBAR Outflows Indicate Accumulation
On-chain data from Coinglass shows that $13.9 million worth of HBAR has flowed out of exchanges in the past 24 hours. This suggests bullish sentiment, with long-term holders accumulating the asset and moving it to wallets, indicating strong buying pressure.
📉 Bearish Sentiment Among Traders
Despite bullish long-term activity, HBAR's Long/Short Ratio sits at 0.89, signaling bearish sentiment among intraday traders. Approximately 53% of top traders are holding short positions, while 47% remain long, reflecting a cautious outlook.
🔮 HBAR Price Prediction and Current Momentum
HBAR is currently trading near $0.364, with an 8.5% gain over the last day and a 60% increase in trading volume. The asset recently broke out of a bullish symmetrical triangle pattern, forming a large green candle and a bullish engulfing pattern, signaling strong upward potential.
🚨 Key Levels to Watch
Resistance: $0.378. A daily close above this level could trigger a 22% rally, pushing HBAR to its all-time high of $0.465.Support: Any failure to maintain momentum could lead to a retest of lower support zones.
🔑 Historical Context Supports Growth
Based on historical price movements, HBAR's current breakout signals an opportunity for continued growth if resistance levels are cleared. Strong participation from investors and a recovering market may fuel further gains.
⚠️ Disclaimer
This analysis is for informational purposes only and does not constitute financial or trading advice. Always conduct your research before investing.
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