Hedera (HBAR) price stands out as the main gainer with an increase of more than 23% in the last 24 hours, marking the levels not seen since December 2021. The break of the 36-month consolidation has issued Massive bullish signals for the token, which is now considered to take another step and enter the top 10 cryptos. Additionally, the channel strengthened each day, highlighting the growing bullish sentiment for Hedera and HBAR prices.
Why is the price of HBAR increasing? Will the price reach $1 during this bull run?
Last week was one of the most exciting weeks for Hedera, which allowed the price to move so quickly. Some titles include
- Several banks in the Philippines launch peso-backed stablecoin PHPX on the Hedera network
- Grayscale looking at a potential HBAR ETF spot
- A Record $41.65 Million in USDC Flows into the Hedera Network
- HBAR recorded over $2 million in cash inflows
With this, HBAR has gained one of the top spots in the prominent social and trading activity after Litecoin, which is giving massive bullish signals for the crypto. What’s next for the HBAR award?
The above historical chart of the HBAR shows that the price has broken the 3-year consolidation, lifting the RSI levels above the upper threshold. The weekly RSI entered the overbought zone for the first time since the 2021 bull run, reviving hopes of a similar bull run thereafter. On the other hand, the token appears poised for another surge as the weekly 50/200-day MA heads towards a bullish crossover, commonly referred to as the “Golden Cross.”
Other positive factors to consider here are the bullish sentiments reaching 90.6% for crypto, the upcoming presidency of Donald Trump boosting the markets with friendlier SEC rules and clearer regulations and, above all, the rise in inflation in the United States. Therefore, the Hedera Price (HBAR) was launched. This is a massive bullish attack and is therefore believed to break a new ATH above $0.6, provided it breaks through the intermediate resistances at $0.44 and $0.57.
