Hedera is a decentralized, open-source, proof-of-stake public ledger and HBAR is the native cryptocurrency of the platform, used for processing and securing transactions on the network.
HBAR daily chart is showing an impulsive 3 waves structure up from 2023, moreover, the recent rally in wave ((3)) was the strongest achieving +830%. Then It did pullback in 3 waves within wave ((4)) so the daily cycle is looking for another rally in wave ((5)). Consequently, the coin will remain supported above recent December 2024 low $0.23 and it will continue the rally to break above the previous peak $0.39.
In conclusion, HBAR daily cycle remains bullish and the current move to the upside will aim for the target area at $0.43 – $0.49 before another 3 waves pullback takes place.
HBAR Daily Chart 1.5.2025
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