Hedera (HBAR) Surges After Robinhood Listing: $0.39 Target?
Hedera (HBAR) Gains Momentum After Robinhood Listing
Hedera (HBAR) has seen a notable price increase after being listed on Robinhood, a popular trading platform that offers access to a wide range of crypto assets. The listing provides HBAR with increased mainstream exposure, potentially driving further growth.
Key Takeaways
- Robinhood Listing Impact: HBAR prices rose by 8% on July 25th following the Robinhood listing.
- Ongoing Uptrend: The upward trend for HBAR has been consistent throughout July.
- Price Target: Analysts predict a continued rally, with a potential target of $0.39.
The Robinhood listing news acted as a bullish catalyst, propelling HBAR prices upward. On the day of the announcement, HBAR increased by 8.19%, challenging the critical resistance zone between $0.285 and $0.3.
This price range has been a significant supply zone. The recent developments suggest that HBAR could be poised to rally toward its all-time high of $0.569.
HBAR's Support Levels
The Fixed Range Volume Profile for 2025 indicates a Point of Control at $0.192, which has now been flipped to support. The Value Area High stands at $0.261, with HBAR currently trading above this level.
The market structure for HBAR is bullish, supported by strong gains throughout July. Even a retracement from $0.3 maintained above the $0.234 support level.
Momentum Indicators
The Relative Strength Index (RSI) has reset from overbought conditions to a healthy reading of 65, suggesting room for further price appreciation.
The On Balance Volume (OBV) continues to climb, indicating consistent accumulation and buy-side pressure.
Overall, technical indicators suggest potential for additional gains in the coming weeks. A drop below $0.223 would signal caution, while a rally beyond $0.28-$0.3 targets $0.324 and $0.392 next.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice.