- HBAR price has established a supercycle impulse wave
- The current market decline is just a 50% retracement
- A dollar cost average approach is the safest approach to participating in the next HBAR Bullrun
Hedera Hashgraph price printed a clear supercycle wave, subdivided into three impulsive bull rallies dating back to December of 2019. Although the crypto market has experienced a bearish stronghold towards the final trading days of August, HBAR’s price is still a sleeping giant in the grand scheme of things.
HBAR price could 20x
Hedera Hashgraph’s price currently auctions at $0.064. Based on Elliot Wave Theory, HBAR seems to be in a corrective structure within a much larger supercycle impulse wave.
A Fibonacci Retracement tool surrounding the entirety of HBAR’s price action from the 2019 lows of $0.009 to the 2021 highs at 0.54 cents qualifies the current downtrend as just a 50% retracement. Additionally, Volume Profile Pattern has all but faded, a text-book signal that another impulse wave will one day commence.
Based on Fibonacci projections and previous wave fractals, a conservative target for the next HBAR Bullrun lies near $1.50. Such a move would result in a 2,000 percent increase in price.
HBAR’s price still has room to fall as the 61.8% FIB level lies 35% below today’s current market value at $0.044. Based on current market conditions, an additional drop is possible; therefore, a dollar cost average approach should be applied to HBAR price action until more short-term bullish evidence presents itself.