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The Hedera price has pumped 13% in the last 24 hours to trade at $0.3799 as of 3:30 a.m. EST on a 100% jump in trading volume to $2.6 billion.
Hedera Price May Encounter A Short Term Downturn
The HBAR/USD chart on the 4-hour timeframe shows a bullish trend supported by a double bottom pattern forming around the $0.25 price level. This pattern, a classic reversal signal, indicates a shift from a downtrend to an uptrend.
Following the breakout above the $0.30 resistance level, the price surged, confirming the pattern and suggesting further upside potential. The breakout level now acts as immediate support, while the $0.37 zone has emerged as a reward area, serving as a near-term target for bullish traders.
HBAR/USD Analysis Source: Dextools.io
The 50-period Simple Moving Average (SMA) is trending upward, with the price currently trading above $0.30. This dynamic support reinforces the bullish momentum.
Meanwhile, the Moving Average Convergence Divergence (MACD) indicator also confirms this sentiment, with the MACD line above the signal line and a positive histogram reflecting strong buying pressure. However, the histogram’s possible peak suggests traders should watch for any signs of weakening momentum.
The Relative Strength Index (RSI 14) is at 70.70, nearing the overbought territory, which indicates a potential consolidation or minor pullback may be in the cards for HBAR. If this happens, the $0.30 support zone could serve as an ideal entry point for buyers.
Resistance is currently observed at $0.37, with a higher target of $0.40 if the upward trend continues. Conversely, if the price retraces significantly, $0.25 would act as a strong support level, as it marked the base of the double bottom.
The breakout and subsequent rally signal a bullish outlook, though traders should be cautious of potential pullbacks due to the overbought RSI.
A sustained move above $0.37 could open doors to $0.40, while a drop below $0.30 might warrant reassessing bullish positions. Stop-loss orders below $0.29 are recommended to manage risk effectively.
Flockerz Presale Races Toward $11 Million – Last Chance To Buy!
Even as the Hedera price retraces before the next upward move, investors are increasingly directing funds toward Flockerz (FLOCK), which has already raised over $10.4 million as its presale nears completion.
Flockerz introduces an innovative Vote-To-Earn system, allowing users to earn FLOCK tokens by voting on key proposals that shape the project’s future.
By purchasing FLOCK tokens, users can access FlockTopia, a decentralized autonomous organization (DAO), to vote on crucial decisions such as marketing strategies and token burns.
After the vote is over The Flocks still family! 🐦💙 pic.twitter.com/P0bgz7Emzy
— Flockerz (@FlockerzToken) January 16, 2025
This system guides the project’s development and enables users to earn additional tokens through smart contracts, fostering active participation and decentralization.
Final Call To Buy FLOCK Now – Only 5 Days Left
For investors seeking passive income opportunities, FLOCK’s staking program offers an impressive annual yield of 267%, making it an attractive choice for maximizing returns.
According to an analyst from the 99Bitcoins YouTube channel, which has over 719K subscribers, FLOCK has the potential to deliver an impressive 100X return once it officially launches.
Right now, investors can purchase FLOCK tokens for $0.0066883 using BNB, ETH, USDT, or a bank card through the buy widget on the project’s website.
Buy FLOCK here before its presale ends in 5 days.
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