Flow

bullish

Hedera

Grow

Propel

<ul class="wp-block-list">
 <li>RSI at 84.69 indicates overbought conditions; CMF at 0.21 shows strong buying interest.</li>
 <li>A golden crossover suggests long-term bullish potential.</li>
</ul>
Hedera Hashgraph (HBAR), a cryptocurrency often highlighted during the 2021 bull market, has <a href="https://coinmarketcap.com/currencies/hedera/" target="_blank" rel="noopener noreferrer nofollow">surged</a> by 44% in the last 24 hours. HBAR, which recently broke key resistance levels, has delighted its investors with this explosive rally. The token’s price currently sits at $0.2453, marking a 22% daily increase. Over the past week, it has gained 68.71%, showcasing its strong upward momentum.
HBAR’s market cap has risen to $9.37 billion, a 22.57% increase, with a 24-hour trading volume of $3.61 billion and an impressive 180.09% <a href="https://thenewscrypto.com/bitcoin-dips-to-93k-and-stabilizes-at-94k-amid-liquidation-spike/" target="_blank" rel="noopener noreferrer nofollow">spike</a>. The volume-to-market cap ratio of 38.89% indicates heightened activity. If it maintains its current trajectory above $0.25 every week, HBAR could accelerate its upward momentum.
<h3 class="wp-block-heading" id="h-bullish-indicators">Bullish Indicators</h3>
HBAR’s bullish momentum is reflected in the technical analysis. The Relative Strength Index (RSI) is at 84.69, well into the overbought zone, with its average at 75.64. This suggests the possibility of a near-term pullback or consolidation. The Chaikin Money Flow (CMF) is at 0.21, highlighting strong capital <a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-surpass-30b-cumulative-inflows-amid-market-rally/" target="_blank" rel="noopener noreferrer nofollow">inflows</a> and institutional buying interest.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="447" src="https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17-1024x447.png" alt="" class="wp-image-116356" srcset="https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17-1024x447.png 1024w, https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17-300x131.png 300w, https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17-768x335.png 768w, https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17-1536x671.png 1536w, https://thenewscrypto.com/wp-content/uploads/2024/12/HBARUSDT_2024-12-02_10-55-17.png 1814w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
</figure>
Support for HBAR lies at $0.200, while immediate resistance is at $0.260. A breakout above $0.260 could push the price towards $0.300. Conversely, a drop below $0.200 may trigger a retest of the $0.150 support level.
A golden <a href="https://www.tradingview.com/chart/my4E0xUN/?symbol=BINANCE%3AXRPUSDT" target="_blank" rel="noopener noreferrer nofollow">crossover</a> has recently formed on the chart, as the 50-day moving average crossed above the 200-day moving average. This long-term bullish signal underscores the potential for sustained growth in the months ahead.
The combination of an overbought RSI and strong CMF highlights both short-term caution and long-term optimism. Investors should monitor key levels, as breaking above $0.260 could ignite further upward momentum, while a pullback would present buying opportunities at lower levels.
HBAR’s performance this week demonstrates its potential as a top-performing cryptocurrency. Its explosive growth, combined with positive technical indicators, positions it as a strong contender for continued bullish movement. Highlighted Crypto News Today <a href="https://thenewscrypto.com/crypto-bull-run-helps-nft-market-grow-again/" target="_blank" rel="noopener noreferrer nofollow">Crypto Bull Run Helps NFT Market Grow Again</a>

HBAR Bulls Propel Price to Surge 48% with Key Technical Levels

Table of Contents

TheNewsCrypto

Other articles published on Dec 2, 2024

XRP Takes Rank 3 as Largest Cryptocurrency by Market Cap Surpassing USDT Amid XRP’s Price Pump to...

Ripple Market Korea Sells XRP and Grows Community

HBAR hits seven-month high after 47% rally as whales accumulate

XRP Changed the Balance in the Market! What is Needed for Bitcoin to Exceed $100,000? Analysts Ev...

Teresa Goody Guillén Considered for SEC Chair Amid Trump’s Pro-Crypto Push

Qubetics Presale Rockets Past $3.9M While Binance Strengthens Its Ecosystem And Fantom Powers Ahe...

Join our free newsletter for daily crypto updates!