Hedera Maintains Crucial Trendline as HBAR Price Aims for $0.31 Surge
Hedera's price is currently in a pivotal position, testing the $0.245–$0.250 support zone and an ascending trendline, following a recent correction from highs above $0.30. This support zone is crucial for maintaining bullish momentum, as a breakdown could lead to deeper retracements to lower multi-month levels.
The recent surge in Hedera's price, a 13% increase, was attributed to its listing on Robinhood, which opened the door to millions of new traders. This listing has boosted Hedera's visibility, attracting new retail interest into the market.
Hedera's strong fundamentals include a 10,000 transactions per second capacity and enterprise partnerships with firms like Google and IBM. Additionally, growing interest in DeFi and real-world asset integration through Thrive Protocol is also a notable factor.
Short-term technical analysis implies that maintaining the $0.245–$0.250 support alongside the ascending trendline is pivotal. Holding these levels would favor a bullish outlook toward $0.27–$0.28 in the near term, whereas falling below may prompt further downside risk.
If Hedera holds above this zone and the ascending trendline, it is positioned to attempt a move toward key resistance near $0.27–$0.28. A break above $0.275 resistance could signal further upside potential, while a failure to sustain support may lead to deeper retracements to lower multi-month levels around $0.19 or even $0.125.
Market sentiment remains cautiously optimistic amid strong trading volumes and sustained investor interest despite recent volatility. Analysts predict a near-term trading range centered around $0.24–$0.27 to $0.29, reflecting a moderate upside with some volatility. More optimistic price predictions envisage the possibility of $0.40+ to $0.65 by late August given positive momentum and sentiment, but these depend on maintaining current support and trendline confirmation.
In summary, the key battleground for Hedera's price is currently defined as the $0.245–$0.250 range. A clear reaction in this range may determine Hedera's short-term direction. If Hedera holds the trendline, targets between $0.39 and $0.50 could come into play, with $1 viewed as a long-term milestone. The trendline has been holding for months and is being retested by Hedera's price. A successful hold at this level could potentially push Hedera towards a new rally.
- The listing of Hedera on Robinhood, a popular trading platform, points to the influence of technology in driving young trader's interest and increasing Hedera's visibility.
- Strengthening its position in the tech-driven financial market, Hedera boasts enterprise partnerships with tech giants like Google and IBM, and is integrating real-world assets through Thrive Protocol, which contributes to its growth.
