HBAR Price Prediction January 3: Testing Breakout by Balancing from Resistance!

Bittime - Hedera (HBAR) recently showed signs of bullish momentum after successfully breaking out of a descending wedge pattern. 

This technical shift indicates that HBAR may be transitioning from a correction phase to a new uptrend.

HBAR Price Main Trends and Technical Indicators

Analisis Elliott Wave

HBAR price movement is in line with Elliott Wave principles, indicating that corrective wave 4 has completed, paving the way for impulsive wave 5. 

This indicates the potential for further price increases if the current bullish momentum persists.

Breakout Signal

On January 1, HBAR recorded a higher low at $0.26 and broke out of a descending wedge pattern. This breakout pushed the price up 11%, taking HBAR to $0.30. 

The Fibonacci retracement level indicates support at $0.28, with resistance at $0.32 as the main obstacle to further growth.

RSI and Volume Trends

The Relative Strength Index (RSI) exited the oversold region during the consolidation phase, signaling improving market sentiment. 

Additionally, the increasing volume supports the bullish scenario, strengthening the breakout's credibility.

Read also: Cardano (ADA) Price Prediction January 3: Potential to Rebound to ATH in 2025?

HBAR Price Prediction January 3 

If HBAR's momentum continues, the price could reach $0.41, which aligns with the 1.618 Fibonacci extension. 

This would represent a significant increase, driven by strong technical indicators and positive market sentiment.

However, if it fails to stay above $0.28, the price could retest $0.26. A drop below $0.23 could invalidate the bullish scenario, extending the correction phase into the WXY structure with a potential bottom at $0.19.

Long Term Forecast for 2025

Market Domination Projection

Crypto analyst Nick from NCashOfficial predicts the potential price of HBAR based on various market dominance scenarios:

• 2% Dominance: $1.60 to $2.80, with a value of 3,000 tokens of $4,800–$8,400.
• 3% Dominance: $2.40 to $4.20, with a value of 3,000 tokens of $7,200–$12,600.

Realistic Price Range

Nick considers $1 to $2 to be a realistic price range for HBAR in 2025, supported by ecosystem growth and comparisons to Cardano's historical performance.

Conclusion

HBAR's latest breakout and technical indicators suggest a bullish phase, with a short-term target of around $0.41. 

In the long term, ecosystem development and increased market presence can drive significant value. However, as with any crypto investment, risks remain, and careful research is essential.

FAQ Ivy (HBAR)

What is Hedera (HBAR)?

Hedera is a platform that uses unique “hashgraph” technology to support DApps. Hedera's native token, HBAR, is used to pay for transactions on the network and maintain security through a staking mechanism.  

What are the advantages of Hedera (HBAR) compared to other blockchains?

Hedera offers high transaction speeds, low fees, and much better energy efficiency than other blockchains. Hedera also has strong governance through a global member board that includes major companies such as Google and IBM.

How to Buy Hedera (HBAR)?

Hedera (HBAR) can be purchased via various exchange platforms such as Bittime, just by visiting the trade page on the official Bittime website. 

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

Nikola Lazic, Hedera (HBAR) Points to Continued Strength as Breakout Gains Traction, accessed January 3, 2025

Temitope Olatunji, How Much Could 3,000 HBAR Tokens Be Worth in 2025: Hedera Price Prediction, Accessed January 3, 2025

Author: SD