Ranking the highest in the top Altcoins list of highest gainers today, the HBAR price is entering a high-speed recovery rally. Prolonging the Uptober rally to reach new heights, the bulls gatecrash multiple resistance levels and head higher to $0.10.
Further, the breakout of the trend continuation pattern in the weekly chart signals a longer sprint for Hedera. Therefore, the HBAR price predictions remain optimistic and tease a bullish 2024.
Source- TradingView
With a recovery trend of reaching a 36% hike in the last 15 days, the December growth rate for HBAR price is growing remarkably. Crossing the $0.080 mark, the altcoin makes two strong bullish engulfing candles in the weekly chart, ready to create a new 52-week high above $0.09886.
Taking a slightly different approach, the comeback trend also marks a rounding bottom pattern with a neckline at the $0.09886 mark. Currently, the daily price trend showcases straightforward growth with four consecutive bullish candles, accounting for a jump of 20%.
However, the HBAR price trades at $0.08446 with a long wick candle and teases a retest phase coming soon.
Therefore, the short-term analysis signals a retest of $0.075; meanwhile, the uptrend will not quickly lose momentum before reaching the $0.10 mark.
Technical indicator:
MACD indicator: The MACD and signal lines signal a strong uptrend in the motion with the increasing intensity of the bullish histograms.
RSI indicator: With the breakout rally, the RSI line shows a spark in trend momentum and enters the overbought territory. Therefore, both the momentum indicators reflect a surge in underlying demand and bolster the breakout rally.
Will HBAR Price Rise Above $0.10?
Following the double bottom breakout and the rising momentum of market recovery, the HBAR price trend is extremely bullish. With the buyers anticipating a run to $0.10, our analysis hints at a potential retest before the bull run.
However, if the buyers fail to sustain the spirit of recovery, then the correction trend can plunge to $0.060.
