Canary

bullish

Hedera

Gary

All In

Hedera Hashgraph price rally has stalled this month after surging by over 823% between Nov. 5 and Dec. 3.&nbsp; 
Hedera Hashgraph (<a href="https://crypto.news/price/hedera/" target="_blank">HBAR</a>) was trading at $0.32, up by 650% from its lowest level last month. The recent surge has pushed its market cap to over $12 billion.&nbsp; 
Hedera has numerous catalysts that may push its price higher, as some analysts expect. One of these analysts, <a href="https://x.com/RealAllinCrypto/status/1867538658707870177" target="_blank" rel="nofollow">All In Crypto</a>, believes that HBAR price has room to jump to $1 in this bullish cycle. He cited its technicals, especially a double-bottom pattern, to predict this move. 
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 Wont be long before <a href="https://twitter.com/search?q=%24HBAR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$HBAR</a> starts moving again up towards the $1.00, continuation pattern present, giving us now a confluence of patterns taking us toward $1.00 (larger double bottom still in play) <a rel="nofollow" href="https://t.co/1YJDPxeKVp" target="_blank">pic.twitter.com/1YJDPxeKVp</a>— ALLINCRYPTO (@RealAllinCrypto) <a href="https://twitter.com/RealAllinCrypto/status/1867538658707870177?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 13, 2024</a>
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One potential catalyst for Hedera Hashgraph is the rising hopes for an HBAR fund. Valour Funds, a large firm with over $1 billion in assets, filed for a Hedera <a href="https://x.com/hbarTaTa/status/1867570996821057794" target="_blank" rel="nofollow">physical staking</a> exchange-traded product on Euronext, a move that will lead to more adoption by institutional investors.&nbsp; 
Just last month, Canary Capital filed for a spot on HBAR ETF with the Securities and Exchange Commission. There is a chance that the ETF will be approved since the agency is set to go through major changes when <a href="https://crypto.news/anti-crypto-gary-gensler-to-resign-from-sec-when-trump-takes-office/" target="_blank">Gary Gensler steps down</a>.&nbsp; 
Hedera Hashgraph is also seeing traction in its <a href="https://crypto.news/understanding-defi-and-its-uses/" target="_blank">decentralized finance</a> ecosystem. Data shows that the total value locked has jumped to a record high of almost $200 million, much higher than January’s low of $53 million. The biggest players in the ecosystem are Stader, SaucerSwap, and Bonzo Finance. 
HBAR is also seeing strong demand in the futures market, where futures open interest rose to over $326 million. Open interest is a metric that looks at the open call and puts options trades in the futures market.&nbsp; 
 You might also like: <a rel="" href="https://crypto.news/xrp-price-slowly-forms-a-bullish-pattern-can-ripple-hit-5/"> XRP price slowly forms a bullish pattern: can Ripple hit $5 </a> 
<h2 class="wp-block-heading" id="hbar-price-has-more-upside-to-go">HBAR price has more upside to go</h2> 
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 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/12/HBAR-Price.png" alt="Hedera’s HBAR price may jump 215% to $1, analyst predicts - 29" class="wp-image-14319269">
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 HBAR price chart | Source: <a rel="" href="https://crypto.news/price/hedera/">crypto.news</a>
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The weekly chart shows that the Hedera Hashgraph price has been in a strong bullish trend in the past few weeks. It has jumped above the important resistance level at $0.1810, its highest swing on April 2022, and the neckline of the double-bottom around the $0.050 level. 
Hedera Hashgraph price has moved above the 50-week and 25-week moving averages. It has also moved above the 50% Fibonacci Retracement level. 
More upside will be confirmed if the price rallies above the year-to-date high of $0.3900. If this happens, the next point to watch will be at $0.5690, the all-time high. A move above that level will point to more gains, possibly to $1. 
 You might also like: <a rel="" href="https://crypto.news/velodromes-velo-soars-after-binance-listing-as-a-rare-pattern-forms/"> Velodrome’s VELO soars after Binance listing as a rare pattern forms </a>

Hedera’s HBAR price may jump 215% to $1, analyst predicts

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