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The Hedera price pumped 4% in the last 24 hours to trade at $0.2903 as of 11:16 p.m. EST on trading volume that skyrocketed 79% to $1.4 billion.
Hedera Price Gearing Up Towards A Bullish Trend Reversal
The price of Hedera surged dramatically through a parabolic curve, reaching a peak near $0.375, followed by a retracement and narrowing price action. Two converging yellow trendlines mark the falling wedge pattern, with lower highs and higher lows, indicating consolidation.
The HBAR price is now hovering around $0.291 and testing the upper boundary of the wedge, suggesting that a breakout may be imminent, according to data from GeckoTerminal.
The 50-day Simple Moving Average (SMA) (white line) is currently at $0.2918, closely tracking the current price. A breakout above this level would confirm bullish momentum. However, the 200-day SMA (yellow line) at $0.2157 is far below the price, serving as a strong long-term support level.
The wide gap between the two moving averages confirms the overall bullish trend on the higher timeframe.
The Relative Strength Index (RSI) is currently at 50.56, indicating a neutral zone where neither buyers nor sellers dominate. The RSI has remained stable near the midline during the consolidation phase, reflecting a lack of strong momentum. A breakout above 55–60 on the RSI would signal increasing bullish strength.
Meanwhile, the Moving Average Convergence Divergence (MACD) line (blue) is slightly above the signal line (orange), but the histogram bars are minimal, indicating weak momentum and indecision. A bullish crossover has occurred, though it is subtle. If volume picks up, this could provide additional confirmation of an upward breakout.
HBAR Price Prediction
The general HBAR/USD analysis on the 4-hour timeframe shows that the Hedera price may be gearing up towards a bullish reversal pattern over the falling wedge pattern. If the bulls push the price above the upper boundary and breach the 50-day SMA, HBAR price could soar even higher as they target the next possible resistance at $0.40.
However, if the HBAR price fails to hold the support at $0.28, bearish momentum may take over, driving the price down to the next key support near the 200-day SMA ($0.215).
Meanwhile, investors are also piling into the presale of Best Wallet ($BEST), which has already raised more than $4.8 million.
ClayBro, a popular crypto analyst on YouTube with over 132K subscribers, says it ”Could Be The Best Crypto Wallet Of 2025.”
Best Wallet Presale Heads For $5 Million – Next Crypto To Explode?
Best Wallet is a next-generation Web3 crypto wallet that combines an intuitive interface with advanced features to deliver a user experience that surpasses traditional options like MetaMask.
Since the public launch of its presale last month, investors have already pushed funds raised to over $4.8 million. Initially available exclusively through the app’s Upcoming Tokens feature, the presale has since expanded to welcome non-app users.
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With features like exclusive access to Upcoming Tokens and rewards for early adopters, it’s no surprise we’re the fastest-growing crypto wallet.
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— Best Wallet (@BestWalletHQ) December 16, 2024
The $BEST token offers valuable perks, including reduced fees, enhanced staking rewards, and exclusive bonuses, making it an essential asset for crypto enthusiasts. You can also earn passively by completing quests and receiving airdrops of BEST tokens.
Its ”Upcoming Tokens” feature also curates some of the hottest presales available, aiming to give investors a market edge. Tokens like Catslap ($SLAP), which was featured on the app, soared 4,163% after launch, cementing Best Wallet’s reputation as a go-to platform for uncovering hidden crypto gems.
No more missing out on early-stage #crypto projects! 💸
With Best Wallet’s Upcoming Tokens feature, you can easily browse, learn, and buy presale tokens directly from the app!
Download now! 👉 https://t.co/he5kzra7TY pic.twitter.com/ZcNZ1b6Up1
— Best Wallet (@BestWalletHQ) October 26, 2024
Priced at just $0.02325, interested investors should secure tokens before the next price increase in less than 2 days.
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