Top crypto analyst Egrag Crypto’s technical analysis of HBAR price action has proven accurate, as the token breaks through multiple resistance levels.
According to CoinGecko data at press time, HBAR has reached $0.3536, marking a 41.15% increase in 24 hours and a 159.48% rise over the past week.
What you'll learn 👉
Technical Breakthrough Validates Analyst Predictions
Egrag Crypto’s chart analysis identified the Fibonacci 0.702-0.786 zone as a decisive breakout level for HBAR. The analyst’s assessment focused on these levels, approximately between $0.2537 and $0.3209, as key resistance points.
The current price movement has validated this analysis, with HBAR successfully breaking through these barriers.
The token’s upward momentum aligns with Egrag’s projected trajectory, which pointed toward a potential target of $0.584. This target corresponds to the 1.0 Fibonacci level, presenting the next major resistance zone for HBAR.
Market Performance and Volume Indicators
Trading volume for HBAR has surged to $7.8 billion over the past 24 hours. The sharp increase in volume accompanies the price breakout, suggesting strong buyer interest.
Moreover, the token continues to maintain support above its macro trend line. This line has served as a reliable foundation throughout previous price corrections.
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Technical Structure Points to Higher Targets
The price action follows the pattern outlined in Egrag’s analysis, which highlighted an ascending wedge formation. HBAR’s movement above the 0.786 Fibonacci level at $0.3209 strengthens the bullish market structure. The token now approaches the analyst’s projected target of $0.584, representing the next major technical milestone.
The sustained break above multiple Fibonacci resistance levels supports the broader uptrend identified in the technical analysis. Each support test along the macro trend line, marked by consolidation points, has preceded new price advances, establishing a pattern that continues to play out in the current market structure.
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