Hedera (HBAR) Price Shoots 35% with Fresh Breakout, Analyst Predicts $1

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As a seasoned analyst with over two decades of experience in the financial markets, I find myself intrigued by the meteoric rise of HBAR, the native cryptocurrency of Hedera Hashgraph. With a career that has spanned various regulatory environments, I can’t help but notice the potential impact of a possible Brian Brooks chairmanship at the SEC on this burgeoning digital asset.

The digital currency, HBAR (Hedera Hashgraph’s native token), has experienced a surge of approximately 35% over the past 24 hours. Currently, it is trading at $0.1125 with a market capitalization of around $4.25 billion, placing it among the top 30 cryptocurrencies in terms of value.

In the past week, the value of HBAR has risen significantly, increasing by an impressive 100%. This surge has added approximately $2 billion to its worth. The altcoin has been gaining considerable attention lately due to Canary Capital’s recent filing for a spot HBAR Exchange-Traded Fund (ETF).

In the crypto world, there’s optimism that the regulatory landscape will enhance under the Donald Trump administration, leading to this development. The application for a traditional ETF by Hedera has sparked curiosity among investors, hoping for increased liquidity in the altcoin market down the line.

A notable aspect of the latest Hedera price increase is its association with a substantial jump in daily trading volumes, reaching over $1.51 billion, marking a 115% surge. This means that over $1 billion of Hedera’s tokens, represented by HBAR, were bought in just one day.

Right now, Hedera Hashgraph’s (HBAR) price movements are probing crucial resistance points that need to transform into support zones for continued bullish trend. The next major resistance lies at $0.1331, then $0.1372, with no notable resistance until it hits $0.1562. If these thresholds are surpassed, a potential price surge may follow.

Captain Faibik, a well-known cryptocurrency expert, has pointed out that Hedera’s ($HBAR) price is presently surging beyond the symmetrical triangle configuration on the weekly chart. This technical indication points towards a robust bullish trend, as Captain Faibik foresees a long-term goal of $1 for $HBAR.

$HBAR is breaking out of Symmetrical Triangle on the Weekly timeframe Chart..!!

Long term Target : 1.00$#Crypto #HBAR #HBARUSDT

— Captain Faibik 🐺 (@CryptoFaibik) November 18, 2024

Hedera Board Member Can Be the Next US SEC Chair

It’s being speculated that Brian Brooks, currently on the board of Hedera Hashgraph, could be a strong contender for the position of Chair at the U.S. Securities and Exchange Commission (SEC). This news is significant for both the HBAR community and the broader crypto community, as Brooks has a deep understanding of the cryptocurrency industry.

Previously holding the position of CEO at Binance US, Brooks found himself nominated on two separate occasions by President Donald Trump, once during the 116th and again during the 117th Congress, for a term spanning five years as Comptroller of the Currency.

In the process of forming his administration, Brooks is being considered as a top candidate for the position of SEC Chairman, and many believe that he could play a significant role in enhancing the regulatory infrastructure for digital currencies.

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2024-11-18 18:40