Hedera (HBAR) has lately been on a bullish momentum evident in the broader crypto market. Analysts at Sin City Crypto point to its strong price performance and ecosystem developments as reasons for its upward momentum.
Trading around $0.3852, HBAR has seen a 12.17% increase in the past day and 39.28% over the past week. Analysts now suggest Hedera may never again dip below $0.30, with $0.30 solidifying as a key support level.
What you'll learn 👉
Hedera Partnerships Drive Momentum
One of Hedera’s standout achievements is its collaboration with SpaceX and WiseKey. In this partnership, a SpaceX satellite processes crypto transactions in orbit using Hedera’s blockchain. This futuristic initiative positions Hedera as a pioneer in interplanetary transactions, showcasing its adaptability for extreme applications.
The FedNow instant payment system, which has been using Hedera for more than six months, is also connected with the platform. This collaboration bridges the divide between centralized and decentralized systems and highlights Hedera’s institutional legitimacy and scalability.
Hedera’s role in tokenizing real-world assets (RWAs) further bolsters its position. Hedera has demonstrated its potential to convert traditionally illiquid assets by tokenizing more than $3 billion worth of luxury goods. These include diamonds and gemstones, in partnership with Voltic and the World Gemological Institute.
Read also: Analyst Predicts a Bullish Wave for Cardano (ADA) – Here’s Why
HBAR Price Predictions and Technical Analysis
The video from Sin City Crypto provides an optimistic price outlook for HBAR. By January 2025, the analysts predict the token will be between $0.50 and $0.60, with the potential to reach $0.70 to $0.80 based on market momentum. Besides, they add that HBAR might reach $1.00 by the end of Q1 2025 thanks to growing acceptance and well-known partnerships.
From a technical perspective, Hedera recently broke out of a bullish pennant, signaling further upward momentum. Strong support at $0.30 and resistance between $0.45-$0.50 suggest a healthy consolidation phase ahead. While overbought territory raises caution, historical bull market trends imply sustained upward potential.
The Path Forward
With a robust ecosystem and innovative projects like space-based transactions and RWA tokenization, Hedera is poised for growth.
Analysts emphasize that at $0.38, HBAR offers substantial value, presenting both short-term gains and long-term investment potential. As partnerships and adoption expand, the cryptocurrency could rally to new heights in the coming months.
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