HBAR, the native cryptocurrency of the enterprise-grade blockchain network Hedera, has witnessed a strong surge of 32% over the past week. In the last 24 hours, the Hedera (HBAR) price is up by another 9$ moving past $0.11 with trading volumes shooting 26% above $300 million.

Hedera Price Bullish on All Technical Indicators

As per the crypto analyst Crypto Troll, the Hedera price is flashing bullish signs on several technical parameters. The analyst notes that the trading volumes for HBAR have surged by a staggering 1000% in the last three days indicating strong investors’ demand.

Crypto Troll (NOT!) also highlighted various technical indicators signaling bullish momentum for HBAR. In his tweet, he expressed confidence, saying, “I believe there’s a high probability that $HBAR will surge to $0.30 within the next 2-3 weeks. Indicators such as MACD, Stoch RSI, RSI, Williams %R, and Awesome Oscillator are all indicating an upward trajectory.”

Courtesy: Crypto Troll

Outlook for 2024

Analysts are quite bullish for Hedera as we proceed into 2024 with some also believing that the HBAR price will cross its previous all-time highs and reach $1 this year.

By 2025, the anticipated strategic partnerships are poised to play a crucial role in shaping HBAR’s path forward, offering the potential to expand its ecosystem and increase its utility across diverse sectors.

These partnerships are anticipated not only to widen HBAR’s scope but also to solidify its position as a frontrunner in the cryptocurrency space.

Hedera’s governance model and dedication to environmental sustainability add further strength to HBAR’s attractiveness. By tackling key challenges confronting blockchain technology, such as energy usage and effectiveness, Hedera demonstrates its leadership and progressive mindset.

Many crypto enthusiasts perceive HBAR as possessing robust long-term potential when compared to other networks. Attributes such as speed, security, and scalability are cited as key factors that set HBAR apart from competitors like SOL, FLUX, MINA, QUANT, and ALGO.

The post Hedera (HBAR) Price Gains 32% Over Last Week, Is $1 Coming In 2024? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am