The Graph (GRT) and Hedera (HBAR) Prices Pumping – Here’s Why

The crypto market rally shows no signs of slowing down, with Bitcoin recently breaking its all-time high around $66,000-$67,000. While the world’s largest cryptocurrency has consolidated after the milestone, attention has shifted to several major altcoins pumping, largely driven by the AI narrative.

Two altcoins leading the charge are The Graph (GRT) and Hedera (HBAR), surging 14% and 11% respectively to trade around $0.35 and $0.13.

The Graph (GRT) Breakout and Bull Run Signals

According to analysis from Coinpedia, several technical and fundamental factors point to a potential GRT bull run. The cryptocurrency has broken above the 23.60% Fibonacci level at $0.30, signaling bullish momentum and an uptrend continuation that could lead to a significant price jump towards $0.50.

This breakout above key Fibonacci levels and the dynamic 50-week EMA hints at a sustained uptrend for GRT in 2024, with the potential to reach $1. Supported by the 50-week EMA, GRT’s bullish reversal gains pace amidst the broader bull market.

Currently ranked #42 among top coins with a $3 billion market cap, GRT is trading at $0.35 after a recent 16% overnight hike, with a 20% rise in trading volume supporting the bullish trend. Furthermore, the weekly RSI entering overbought territory underscores the strength of GRT’s current uptrend.

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Hedera (HBAR) Showing Impressive Momentum

Hedera’s native token HBAR is also turning heads with impressive gains, as highlighted by Coinpedia. The cryptocurrency has recorded a staggering 90% price increase in just five weeks. HBAR is aiming for a breakout above $0.136, aligning with the 23.60% Fibonacci level, which could extend the bull run towards $0.20 and potentially $0.25.

As Bitcoin hits new all-time highs, altcoins like HBAR are awakening for a strong bull market run, contributing to the overall market recovery. The surge in HBAR’s trading volume accompanies its significant price increase. Notably, HBAR has successfully crossed the psychological $0.10 milestone, indicating a robust uptrend.

The potential for a golden crossover in HBAR’s weekly chart hints at continued bullish momentum. Additionally, the RSI venturing into overbought territory showcases the strength of the current buying trend for HBAR.

Conclusion

As the crypto market rally rages on, fueled by AI narratives, altcoins like The Graph (GRT) and Hedera (HBAR) are emerging as major beneficiaries. With strong technical indicators and potential for further gains, these projects are capturing investors’ attention and driving the broader market’s momentum.

While past performance is no guarantee of future results, the current bullish signals suggest that GRT and HBAR may have more room to run in the ongoing crypto market upswing.

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Petar Jovanović
Petar Jovanović

As the Head of Content at Captainaltcoin, I bring years of experience in the crypto industry. With a strong belief in the potential of the web3 market since 2017, I'm passionate about sharing valuable insights and knowledge. Feel free to connect with me on LinkedIn and let's discuss the exciting world of cryptocurrencies and decentralized technologies!

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