The latest events in the Hedera ecosystem appear to influence the native token’s (HBAR) price action as it continues to gain momentum strongly. This token has witnessed an impressive 159% surge in the past month due to growing interest from traders.
This article delves into a dissection of how the technical indicators and recent ecosystem developments for HBAR point towards a rally towards the three-year high it reached just three weeks ago.
Hedera strengthens ecosystem with Chainlink & SEALSQ partnerships
Only two days ago, the integration with Chainlink’s Data Feeds and Proof of Reserve systems was completed, and it represents a significant technological advancement, potentially attracting more DeFi developers to the ecosystem. This integration could serve as a fundamental price catalyst, enhancing Hedera’s capability to support sophisticated DeFi applications.
The partnership with SEALSQ Corp for quantum-resistant semiconductors positions Hedera at the forefront of blockchain security innovation. With the QS7001 hardware platform scheduled for 2025, long-term investors might view current price levels as attractive entry points, anticipating future value appreciation from these technological advancements.
Technical analysis for Hedera (HBAR)
The HBAR token’s 24-hour trading volume soared to $1.53 billion at press time, marking a huge 74.22% increase. This surge in trading activity, coupled with a market capitalization growth of nearly 2% to reach $11.32 billion, are simply signs of strong market participation for the token.
The current technical landscape for Hedera shows a compelling picture of consolidation around the $0.29 level. The price action has formed a clear resistance zone near $0.30, tested multiple times in recent trading sessions. The formation of a symmetrical triangle pattern on the 30-minute chart suggests accumulation, with the price coiling between converging trendlines.
The Relative Strength Index (RSI) is currently hovering around 50.24, indicating a neutral momentum state that could swing in either direction. This middle-ground RSI reading suggests that HBAR isn’t currently overbought or oversold, leaving room for potential movements in both directions. The RSI’s recent fluctuations between 40 and 60 further confirm the consolidation phase.
On the other hand, the Moving Average Convergence Divergence (MACD) shows minimal divergence with readings of 0.00251 and 0.00241, suggesting a tight trading range. The nearly flat histogram bars indicate decreased volatility, though small positive values hint at subtle bullish momentum building up. Traders should watch for any significant MACD crossovers as potential triggers for the next directional move.
Monthly Trading Chart For Hedera (HBAR)
HBAR 2025 price prediction
As things stand, the token seems to be maintaining a cautiously bullish outlook. The consolidation pattern, coupled with neutral RSI and converging MACD, indicates that a significant move could be on the cards for HBA. Risk-management strategies should consider setting stop-losses below $0.28 for long positions while targeting the previous high of $0.369 as a reasonable profit target.
However, the immediate resistance at $0.30 remains crucial – a decisive break above this level could trigger a rally toward the recent high of $0.369. Support levels are well-established at $0.28, providing a safety net for potential pullbacks.
The recent SpaceX collaboration and Chainlink integration provide strong fundamental backing for upward momentum, though traders should remain vigilant of broader market conditions. The combination of these partnerships with the current technical setup suggests that Hedera could test the $0.35-$0.40 range in the coming weeks, provided the overall crypto market sentiment remains supportive.
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