Hedera's HBAR Surges 30%, Eyes $1

Hedera, a promising blockchain project, has recently experienced a significant surge in its token price, HBAR. The token has rebounded from its local bottom by over 30%, indicating strong confidence among market participants. This surge has placed Hedera among the top 10 cryptocurrencies, surpassing popular tokens such as Chainlink, Steller, and Litecoin. The growing strength of the token and the bullish sentiments in the market suggest that the HBAR price could soon reach $1, marking a 60% rally.

Hedera's strategic partnerships have played a crucial role in its recent price rise. The latest development is the integration of Swift, a global payment network used by banks for international transfers, across North America, Europe, and Asia. This partnership is expected to increase institutional adoption of the Hedera network and solidify its position as a leader in cross-border payments. Consequently, the HBAR price is anticipated to undergo a notable change and trigger a strong upswing.

The HBAR price has broken above the 5-week descending trend, indicating that the bulls have regained control of the token. Technical indicators have turned bullish, suggesting that the price is poised to initiate a fresh ascending trend towards new highs. The weekly chart of HBAR appears extremely bullish, with the token on the verge of its first weekly Golden Cross. Additionally, the weekly RSI has triggered a bullish divergence before reaching average levels. These factors suggest that the HBAR price is expected to revive a strong rise and reclaim the 0.5 Fibonacci level at $0.289 in the near future. Once the bulls secure these levels, the Hedera price is expected to take off on a strong bullish rally and reach higher levels.