Egrag Crypto, a notable voice in the crypto space, has reported a potentially bullish pattern for Hedera Hashgraph’s cryptocurrency, HBAR. According to a recent X update, HBAR is showing signs of an ‘Adam & Eve’ formation, a classic chart pattern indicating a possible significant upward trend. With keen interest from the community, the formation suggests that if HBAR closes above $0.15, it could rapidly ascend to the minimum Fibonacci level of 0.702 in the short term.
The ‘Adam & Eve’ pattern is characterized by a sharp V-shaped bottom (‘Adam’) followed by a rounded U-shaped bottom (‘Eve’), suggesting a strong support level has been formed. According to Egrag Crypto, a break above the $0.15 resistance could propel HBAR toward new highs, while a rejection at this level might present a last buying opportunity at $0.10 before an anticipated significant rise.
Analysts draw parallels between HBAR’s current trend and the historical surges of cryptocurrencies like ALGO, ADA, and XRP. These patterns suggest that HBAR has the potential to reach, perhaps even exceed, its all-time high. Egrag Crypto employs the metaphor “going to the moon” to illustrate the potential for HBAR’s significant value surge.
The sentiment is cautiously optimistic, with predictions for HBAR’s price to target the $0.15-$0.20 range, followed by a retest at $0.10, before potentially exceeding its all-time high. These developments are closely monitored by investors and enthusiasts, labeled as Hbarbarians, who anticipate what Egrag Crypto describes as ‘barbaric moves’ – a term that connotes aggressive and strong market movements.
Per CoinMarketCap data, HBAR’s value has seen a downturn, trading at $0.1298 after a 3.10% decrease. The asset kicked off the day at approximately $0.1338 and saw its value shrink, bottoming out at $0.1289. Despite the dip, a modest recovery was noted, with the price rebounding to the $0.129 mark. Concurrently, the market capitalization retracted by 3.08% to $4,371,711,348, and trading volume shrank by 53.40% to $99,483,062.
