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One of the popular altcoins, Hedera (HBAR), has made a significant 32% rise over the past 7 days, with its price increasing by another 9% in the last 24 hours, surpassing the $0.11 level. The altcoin‘s trading volume has also seen a substantial increase of 26% in the last 24 hours, climbing above $300 million. This increase in price and trading activity, along with various technical indicators signaling an uptrend, has put HBAR on the radar of cryptocurrency analysts.
Could Reach $0.30 in the Next 2-3 Weeks
According to popular cryptocurrency analyst Crypto Troll, the recent thousand percent increase in trading volume for HBAR over the last three days reflects strong demand from investors. Crypto Troll also highlighted various technical indicators signaling an uptrend for HBAR, including MACD, Stoch RSI, RSI, Williams %R, and Awesome Oscillator. With these indicators pointing to an upward price trajectory, Crypto Troll mentioned that the altcoin has the potential to reach $0.30 in the coming 2-3 weeks, which would represent a significant 170% increase for HBAR.
As we move towards the middle of 2024, analysts are optimistic about Hedera and some predict that HBAR‘s price will surpass its all-time highs and potentially reach $1 this year. The strategic partnerships that are expected to be announced are anticipated to play a significant role in shaping HBAR’s price trajectory, expanding its ecosystem, and increasing its usage across various sectors.
These partnerships will not only expand HBAR’s scope but will also strengthen the altcoin’s leading position in its field. Hedera’s governance model and commitment to environmental sustainability are leading the way in addressing fundamental challenges faced by blockchain technology, such as energy usage and efficiency, thereby enhancing HBAR’s appeal.
Significantly Superior to Competitors
Many cryptocurrency enthusiasts point to features like speed, security, and scalability as factors that distinguish HBAR from competitors such as Solana (SOL), Flux (FLUX), Mina (MINA), Quant (QUANT), and Algorand (ALGO). This indicates that HBAR has a strong long-term potential compared to other rival altcoins.
With its strong market performance and promising outlook for the future, HBAR continues to attract interest and support from investors and traders in the cryptocurrency world, and the current outlook suggests that this trend will continue.
