Hedera Hashgraph (HBAR) Predicted to Soar 2,900% by Crypto Analyst

A bullish analysis by crypto analyst Egrag forecasts a remarkable 30x surge (2,900%) for Hedera Hashgraph (HBAR). In his recent chart analysis, Egrag delves into the current market cycle, highlighting crucial Fibonacci retracement levels and key price points that may influence HBAR’s trajectory in the upcoming months.

As per Egrag’s assessment, HBAR is currently valued at approximately $0.0553, with a recent low reaching $0.0355. The 2-week chart illustrates this price action alongside a significant upward trendline that has consistently provided strong support since 2020, with one exception in December 2019.

Egrag points out various Fibonacci retracement levels, essential tools in technical analysis for identifying potential support and resistance levels based on the Fibonacci sequence, correlating percentage movements between key highs and lows.

Key Fibonacci Levels For HBAR in the Bull Run

Egrag emphasizes the robust fundamentals of HBAR, projecting a minimum price surge of 2,900%. Drawing parallels to ADA’s staggering 17,000% surge in the previous cycle, Egrag outlines the potential growth trajectory for HBAR. With solid backing from a Governing Council, Hedera leads the way with innovative technology for seamless tokenization, top-tier performance, strong security, and unmatched compliance.

The article continues to explore various Fibonacci levels, detailing critical price points along HBAR’s market cycle. Each level signifies essential levels for potential support and resistance as the asset progresses.

Concluding the analysis, Egrag envisions a 30x gain as well within reach for HBAR, positioning it as a top macro play in the market. As of the latest update, HBAR is trading at $0.0504.

Featured image created with DALL.E, chart from TradingView.com