Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Hedera Analyst Thinks HBAR Will Easily 30X After Sinking 70% In 6 Months

Source Newsbtc

Hedera, a proof-of-stake platform, wasn’t spared from aggressive bears in early October. After HBAR, its native token, floated higher in September, the rejection of bulls in early October resulted in a double top.

Overall, there is optimism that bulls will resume and push prices to new Q4 2024 highs. The pace of this growth will depend on how the market performs and whether fundamental factors around the project will prop up buyers.

Will HBAR Rise By At Least 30X?

While there are cracks in the HBAR price action, considering the dump from April highs of around $0.18, one analyst on X thinks the token is set for major gains.

Will HBAR at least 30X? | Source: @egragcrypto via X

From his assessment, Hedera can easily score 30X in the coming sessions, mirroring the gains posted by Cardano in the last cycle. Then, ADA soared by over 170X. If HBAR is to follow the same path, the token can easily soar to $6, over 60X from its 2024 highs.

Presently, technical candlestick arrangements favor sellers. After the rally to $0.18 in April 2024, HBAR has been falling. To put the numbers into perspective, the token is down 70% but is stable after finding support in August and September.

Hedera prices moving sideways on the daily chart | Source: HBARUSDT on Binance, TradingView

The local resistance is the double top at around September highs. If prices break above this liquidation zone, HBAR bulls could embark on the journey to drive the coin to $0.18. In effect, this will resume the uptrend set in motion in Q1 2024 and early Q2 2024.

Hedera Fundamentals Key To Driving Growth

There are fundamental factors to consider that may propel HBAR, helping the token shake off weaknesses. Early this month, Canary Capital released the first United States HBAR Trust.

Like Grayscale products, including the ETHE and GBTC, the HBAR Trust allows institutional investors to gain exposure to HBAR. Accordingly, this could drive demand, lifting prices.

In September, Hedera launched the Asset Tokenization studio. Through this solution, the network would be at the forefront of driving the tokenization of real-world assets (RWAs) while adhering to existing laws.

Already, BlackRock, one of the world’s largest asset managers, believes tokenization will rapidly grow in the coming years, managing trillions. According to rwa.xyz, over $12.7 billion worth of RWAs has been tokenized. Additionally, there is interest.

Over $12.7 billion assets tokenized | Source: rwa.xyz

In the last month alone, the number of RWA holders rose to 68,929, a 4% increase. Most of these assets are tokenized on Ethereum and Stellar.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

Sep 16, Wed

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Author Irene Q.

Yesterday 02: 54

The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Yesterday 02: 45

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Popular Symbols