- Hedera(HBAR) shows potential for a significant price surge, targeting $0.3 and possibly $0.9.
- Crypto analysts Merlijn The Trader companied by market developments suggest a bullish turnaround despite recent losses.
HBAR has been having a rough month, taking a 22% hit in value, definitely not what holders wanted to see. But don’t count it out just yet. The crypto community is pretty bullish about its chances, with some experts thinking it could bounce back to $0.3 or even make a run at $0.9. What’s got them excited? There’s been some cool progress in Hedera’s tech development, plus the overall market mood is picking up.
Analysts Predict a Bullish Turnaround
Crypto enthusiast Merlijn The Trader recently shared on X, an optimistic outlook for HBAR, stating that the token is “ready for liftoff.” According to his analysis, HBAR is poised to reach major heights soon. He stated, “$HBAR is ready for liftoff! Strong retest of key resistance,
the parabolic structure remains intact, momentum building for the next leg up.
A higher move is imminent, don’t get left behind!”
Adding to the bullish sentiment, Solberg Invest offered an even more ambitious forecast, suggesting HBAR could climb to $0.95. This prediction aligns with historical patterns observed by analyst Rekt Capital, who noted similarities between HBAR’s current price action and its 2021 rally. He stated, “HBAR is trying to break beyond its current Weekly Lower High but unless the price can Weekly Close above the LH, this could end up as upside wicks; like the many upside wicks that were produced at a similar Lower High back in 2021 before downside ensued.”
David Duong, head of research at Coinbase, has also expressed confidence in HBAR’s potential. He believes that the latest crypto cycle has brought back a wave of legacy investors, fueling renewed interest in so-called “dinosaur altcoins” or older cryptocurrencies that were popular in previous bull runs. The resurgence of “dinosaur altcoins” like HBAR, XRP, and Solana, has gained traction despite the broader market downturn.
Duong pointed out that newer crypto natives are shifting toward different investment themes, such as AI, prediction markets, and stablecoins while returning investors tend to stick with what they know, familiar names like XRP, Solana, Litecoin, and Hedera.
Current Market Performance
Hedera’s ecosystem continues to grow, with the announcement of its first-ever HederaCon event scheduled for February 2025 in Denver, Colorado. Such milestones are expected to boost investor confidence and contribute to HBAR’s long-term growth.
HBAR is trading at $0.2483, with a trading volume of $353.79M reflecting a 1.23% decline in the last 24 hours. Over the past week and month, the token has experienced significant drops of 21.4% and 22.6%, respectively. While these figures may seem discouraging, analysts remain hopeful that HBAR’s strong fundamentals and historical performance will drive a recovery.