HABR 150% Weekly Surge: Is Hedera Primed for the Next Big Breakout?

As the bull run in the Hedera (HABR) token hits $0.15, the rally targets an extension to $0.35 for a new 52-week high.

With a price jump of 150% over the last seven days, Hedera’s market cap has reached $5.452 billion. HBAR trades at $0.1445 at press time, with a 24-hour surge of 16.17%. 

Will the bullish trend in HBAR price result in a new 52-week high this November? Let’s analyze the current price trend to determine the next potential target levels. 

HBAR Price Analysis

On the daily chart, the HBAR token shows a massive V-shaped reversal rally, inching closer to its 52-week high. Starting from a low of $0.04159 earlier this month, HBAR’s bull run has propelled its price by  245% in the last two weeks. 

The bullish turnaround is challenging the 100% Fibonacci level at $0.1567. The intraday candle shows a potential doji formation following last night’s massive 60% surge. 

Over the last five days, it has made consecutive bullish candles, accounting for a nearly 150% surge. The bullish momentum has resulted in a positive crossover between the 50-day and 100-day EMA lines. Furthermore, it has increased the chances of a golden crossover between the 50-day and 200-day EMAs. 

The MACD and signal lines show extremely bullish histograms, supporting the bullish trend and reflecting strong momentum. As a result, the technical indicators are signaling a buy for Hedera.

Will Hedera (HBAR) Price Cross $0.25?

Speculation about a potential partnership between Hedera Hashgraph and SpaceX’s ambitious blockchain mission is fueling the HBAR/USD rally. As Hedera aims to play a key role in satellite payments, the bullish momentum in HBAR appears to be gaining strength.

Based on the Fibonacci levels, the continuation of the uptrend suggests price targets of $0.2249 and $0.355. This represents a potential 145% extension from the current market price.

On the other hand, a pullback could see the price retesting $0.1180 or the 78.60% Fibonacci level.