HBAR breakdown the 0.3 USD threshold – A golden opportunity for investors?

Hedera (HBAR) has just recorded an impressive upward trend, surpassing the 0.3 USD mark after a long period of consolidation. After a prolonged struggle, this altcoin is currently regaining growth momentum. The positive price movement indicates that further increases in the short term are entirely feasible.

HBAR forms a bullish pattern

The MACD indicator of HBAR is signaling that buying pressure is increasing. Earlier this week, the MACD showed a bullish crossover - a technical sign that positive market forces are prevailing.

This is very important for the rise of HBAR as it shows that this altcoin is in sync with the broader market trend – a factor that could help the price continue to rise.

If the MACD continues to maintain an upward trend, the likelihood of HBAR extending its recovery will increase. This technical signal indicates that HBAR is attracting investor interest and may sustain a positive trend due to optimistic market sentiment and new capital inflows.

The MACD of HBAR | Source: TradingViewCurrently, the correlation between HBAR and Bitcoin is 0.72. This can both provide an advantage but also create a barrier for the price volatility of this altcoin. Recently, when Bitcoin's price has been stable, HBAR has had the opportunity to operate independently and develop its own momentum.

However, if BTC suddenly surges strongly in the near future and the correlation between the two assets decreases, HBAR may face obstacles. A strong price increase from Bitcoin could overshadow HBAR's upward momentum, pulling the price down despite positive momentum. Therefore, the current stalemate of BTC may be an important factor helping HBAR continue its upward trend in the short term.

The correlation between HBAR and BTC | Source: TradingView## The price of HBAR is still on the rise

Currently, the price of HBAR is trading around 0.28 USD, up 5% in the last 24 hours. Previously, this altcoin had reached the threshold of 0.3 USD – an important milestone for this cryptocurrency. With the upward momentum maintained, HBAR may continue its positive trend if the overall market signals remain favorable.

If HBAR maintains the 0.3 USD mark as a support zone, this will be an important psychological level to attract more capital inflow, thereby pushing the price to continue rising in the coming time. In this scenario, HBAR could aim for the 0.32 USD mark or even higher.

HBAR Price Analysis | Source: TradingViewConversely, if Bitcoin suddenly surges strongly, HBAR may witness a correction. If this altcoin falls below the support level of 0.27 USD, it could quickly slide down to 0.24 USD, invalidating the bullish scenario. In that case, HBAR will have to undergo a significant correction before it can regain its upward momentum.

Itadori