Hedera Hashgraph Poised for Bullish Breakout with Potential Push to $0.10 in Q4
As the crypto market gears up for a bullish wave in Q4, Hedera Hashgraph (HBAR) is emerging as a frontrunner set to capitalize on this upward momentum. With an impressive 14% increase in value over the past week, HBAR appears primed to ride the broader market optimism to new heights.
Currently valued at $0.061, HBAR has experienced a slight dip in the last 24 hours, likely a minor correction following three consecutive days of gains. Nonetheless, the cryptocurrency continues to exhibit strength, maintaining a steady volume-to-market cap ratio of 2.13%. With a fully diluted market cap of $3 billion and 37 billion HBAR tokens in circulation out of a total supply of 50 billion, Hedera Hashgraph shows promise.
Increasing Market Dominance and Positive Price Trends
HBAR’s market dominance is on the rise, indicating a growing interest in the cryptocurrency ecosystem. This trend positions Hedera Hashgraph favorably to benefit from a potential surge in the crypto market in Q4, driven by heightened adoption among retail traders, institutional investors, and market participants.
Recent weeks have seen HBAR’s price action trend upwards, pushing it towards a key resistance level at $0.06. A successful breach of this level could confirm a double bottom formation, setting a solid base for the cryptocurrency’s price trajectory. Notably, the MACD indicator has turned bullish, with the histogram signaling increased buying pressure and strength in the HBAR/USDT market pair.
Should Hedera Hashgraph manage to surpass the $0.06 resistance and make headway towards $0.10, potential gains of up to 65% could be within reach, potentially materializing in the coming quarter.
Insights from Open Interest, Funding Rates, and Whale Activity
Key market metrics such as open interest, funding rates, and whale activity point towards a favorable outlook not only for Hedera Hashgraph but for the broader crypto market as well. An open interest level of 80% underscores significant interest in HBAR, while funding rates suggest a bullish sentiment with long positions outpaying short positions.
Furthermore, the substantial whale-to-retail delta indicates a notable accumulation of HBAR by larger investors compared to retail traders, further supporting the likelihood of an upward price trajectory.
Analysis of Liquidation Levels
Examining the liquidation levels for the HBAR/USDT pair on Bitget reveals that there are orders totaling $2.25 million set to trigger at a price of $0.0627, highlighting strategic liquidity zones that traders are targeting. This concentration suggests a potential price movement towards this level.
In the event that the $0.0627 level is breached, the next significant target lies at $0.0638, with $1.31 million in orders. As these liquidity zones draw closer, the momentum for HBAR’s upward movement may intensify, potentially paving the way for a substantial 65% increase in price.
With increasing adoption, positive technical signals, and strategic liquidity zones in focus, Hedera Hashgraph appears well-positioned for considerable gains in the near future. Should the current momentum persist, the possibility of HBAR reaching $0.10 and beyond in the anticipated Q4 market upswing seems increasingly likely.