Crypto Analyst Predicts Hedera (HBAR) To Skyrocket 2900% This Bull Run

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As an experienced crypto investor with a knack for spotting promising projects, I’ve been intrigued by Egrag’s latest analysis on Hedera Hashgraph (HBAR). His insights and technical analysis align perfectly with my own observations of this underrated gem in the crypto space.

Crypto analyst Egrag has once again shared a bullish analysis of Hedera Hashgraph (HBAR), predicting a potential 30x increase (2,900%). His latest chart analysis (HBAR/USD) presents a view where HBAR stands in the current market cycle, highlighting key Fibonacci retracement levels and critical price points that could guide HBAR’s movement in the months ahead.

Upon my analysis at the moment, I find that HBAR is being traded around $0.0553. Over the past few weeks, its lowest point was marked near $0.0355. Interestingly, the price movements on a 2-week chart are happening in close proximity to a significant uptrend line which has served as robust support on numerous occasions since 2020. This long-term trendline has been instrumental in maintaining HBAR’s price during market dips and corrections, save for one notable instance back in December 2019.

Egrag additionally highlights various Fibonacci retracement points, which is a commonly utilized technique in market analysis for locating possible support and resistance zones. These points are calculated based on the Fibonacci series, where each level represents a specific percentage of the price fluctuation between significant peaks and troughs.

As I delve into my analysis, I’ve plotted a series of Fibonacci levels on the chart. These levels stretch from the absolute low of $0.0355 marked as Fib 0, to $3.27 which represents Fib 1.618. Each of these points serves as crucial price milestones for HBAR as it navigates this market cycle.

According to Egrag’s analysis, the foundations of HBAR are incredibly robust, and he predicts that a minimum price increase of 2,900% is imminent. To provide some context, during the previous cycle, ADA experienced an astounding surge of 17,000%. If we apply this same growth to HBAR’s current lowest price point (0.036 cents), it would potentially reach approximately $6! This is why Egrag is heavily invested in HBAR. He emphasizes that the platform is supported by a strong Governing Council, and Hedera is at the forefront of innovative technology for effortless tokenization. It offers superior performance, robust security, and exceptional compliance standards.

Key Fibonacci Levels For Hedera (HBAR) In This Bull Run

As an analyst, I’ve noticed that the Fib 0 – $0.03555 mark represents the most recent low point on the chart, which signifies the local bottom for HBAR. Based on Egrag’s analysis, this could be considered a long-term support level with significant historical significance.

At present, HBAR is slightly below the Fibonacci level of 0.236. This level has served as a resistance point in recent times, making it an essential area to surpass for the positive trend to persist. Typically, breaching the Fib 0.236 level suggests the beginning of a bullish trend that could potentially drive prices towards higher retracement levels.

As a crypto investor, I’m keeping an eye on the next significant resistance level at Fib 0.382, which currently stands around $0.1034. If the price consistently breaks through this barrier, it could be a sign of increasing bullish sentiment and potential further advancement towards higher Fibonacci levels.

The Fib 0.5 point, which is closely monitored by traders, serves as a pivotal midpoint between an asset’s highest and lowest points. As per Egrag’s analysis, the range of $0.14 to $0.15 is crucial for HBAR. He suggests that unless HBAR breaks above Fib 0.5 (approximately 0.14 cents to 0.15 cents), everything else seems insignificant; it’s time to gather more of HBAR for what’s expected ahead! According to Egrag.

Golden Ratio Level – Approximately $0.2004: Often referred to as the “Golden Ratio,” the level at 0.618 in Fibonacci analysis is crucial. If HBAR surpasses this level, it may suggest that a retracement has ended and the main trend will resume. This could stimulate considerable bullish sentiment, potentially leading HBAR towards new record highs.

According to Egrag’s analysis, this level around $0.25 becomes a noteworthy area for profit-taking. If HBAR manages to reach this point, it would signify a considerable 4.5 times increase from its current value, making it an important goal for traders aiming to cash out their profits before the next major upward move.

The value Fib 0.786, which is approximately $0.3199, represents a significant barrier that an asset often encounters before it reaches its maximum historical value again. This level, recognized by Egrag, is considered crucial because it might prompt many traders to sell some of their holdings.

The value of $0.5819 is equivalent to the highest price HBAR has ever been before. If the price goes above $0.58, it would suggest that HBAR has fully recovered from its previous market downturn and might signal a fresh bullish trend. Egrag considers this level significant because he might start selling (profit-taking) around here.

The value $1.2447 is an extended Fibonacci level – a potential area where HBAR might see further growth in a bullish market environment. If HBAR manages to surpass its All-Time High (ATH), it could move towards this level, becoming another significant spot for long-term investors to take profits.

If HBAR maintains its upward trend, it might reach this point, marking a notable increase in price. This point, as suggested by Egrag, could be where traders decide to sell a substantial amount of their holdings, anticipating a potential pause following an extended bullish run.

According to Egrag’s analysis, the highest point where HBAR might reach its peak during this cycle is marked as Fib 1.618 or the “Golden Extension”. If this happens, HBAR’s price would jump significantly, nearly 60 times its current value and an astounding 170 times greater than its lowest point at $0.03555. This potential increase indicates the maximum profit-taking zone for HBAR as per Egrag’s chart.

Egrag predicts, “Given its strong foundations and advanced technology, I believe a 30-fold return on investment is imminent, making HBAR my top choice for long-term investment strategy!

At press time, HBAR traded at $0.0504.

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2024-10-07 21:41