Hedera Hashgraph Price Analysis: A Sleeping Giant With 20x Potential

Hedera Hashgraph Price Analysis A Sleeping Giant With 20x Potential
  • 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. 

HBAR/USDT 3-Day Chart

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.

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Tony Montpeirous
Tony Montpeirous
Tony Monpeirous is a full time crypto trader and chart analyst at Coinmash and FXStreet. His style of trading includes, Elliot Wave, Auction Market Theory, and Classic Price Action techniques. When he is not on the screens, Tony enjoys music, cooking, and learning new skills.