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Hedera (HBAR) Price Jumps 25% As Analyst Predicts 192% Rally

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4 hours ago

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Hedera (HBAR) price has seen a bullish shift in the last 24 hours, with the price shooting to a 2-year high of $0.1808 before facing resistance. Despite the resistance, the HBAR price at press time was trading at $0.1823, a 25% surge from the intra-day low.

During the rally, HBAR’s trading volume and market capitalization soared by 261% and 25% respectively, reaching $954.36 million and $6.92 billion.

Hedera (HBAR) Price Jumps 25%

Hedera (HBAR) price has displayed strong upward momentum, reinforced by technical indicators suggesting continued bullish trends after skyrocketing over 25%. The HBAR price recently crossed both its 50-day (SMA 50) and 200-day (SMA 200) simple moving averages, forming a “golden cross”.

The SMA 50 is currently at $0.07545, while the SMA 200 is positioned at $0.07169, both well below the current price.

HBAR/USD price chart (Source: TradingView)HBAR/USD price chart (Source: TradingView)
HBAR/USD price chart (Source: TradingView)

The Relative Strength Index (RSI) for HBAR has reached 78.56, nearing the overbought zone of 80. This suggests strong buying activity but also indicates a potential price consolidation as traders may take profits. However, analysts remain optimistic, with one Javon Marks forecasting a possible rally to $0.504, representing a 192% increase from current levels.

Increased Market Activity Boosts Investor Confidence

HBAR’s price rally has been accompanied by heightened trading activity and open interest, indicating growing market participation. Trading volume surged by 261% to $954.36 million in 24 hours, while open interest grew by 48.26% to $208.25 million.

This increase suggests that new capital is entering the market, which could support sustained upward price movement.

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According to More Crypto Online, HBAR’s current movement aligns with Elliott Wave theory, suggesting one more high is likely in the short term. Analysts are monitoring key resistance levels at $0.176, $0.20, and $0.23. A breakout above these levels could further validate the bullish trend.

Federal Reserve Collaboration Fuels Positive Sentiment

HBAR’s recent price surge is also being supported by its growing role in blockchain-based federal payment systems. Hedera is integrated into the Federal Reserve’s FedNow payment platform through Dropp, enabling real-time payments with increased efficiency and security.

In addition, Ripple (XRP), which has partnered with Hedera for USD transactions, is expected to receive regulatory approval to launch its RLUSD stablecoin in December 2024. This partnership could enhance interoperability between Hedera and Ripple, further bolstering HBAR’s adoption in the payments sector.

Concurrently, HBAR traders are also optimistic due to speculation about the potential approval of a Hedera exchange-traded fund (ETF) submitted by Canary Capital to the U.S. Securities and Exchange Commission (SEC). With Gary Gensler stepping down as SEC chairman, an ETF approval, which is likely under Trump’s administration, is possible hence could provide broader exposure to institutional investors, fueling additional HBAR price gains.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Robert Kiyosaki Says FOMO Is Good As Bitcoin Price Nears $100K Mark

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1 hour ago

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November 30, 2024

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Robert Kiyosaki, author of Rich Dad Poor Dad, has sparked discussion about Bitcoin’s potential to reach new heights. In a recent post, he stated that FOMO (Fear of Missing Out) could benefit investors as Bitcoin price approaches the $100,000 mark. Kiyosaki, a strong advocate for alternative assets like gold, silver, and Bitcoin, warned that holders of traditional fiat currencies risk missing out. 

He believes that as BTC nears the $100,000 milestone, only the ultra-wealthy will be able to afford significant holdings.

Robert Kiyosaki Warns: FOMO is Key as Bitcoin Nears $100K

In a recent tweet, Robert Kiyosaki highlighted his view that Bitcoin will soon surpass the $100,000 mark. He emphasized that once BTC hits this price point, it will become increasingly difficult for the middle class to invest in significant amounts. Kiyosaki argued that those holding traditional fiat currencies like the dollar, euro, or yen will lose out as Bitcoin becomes more accessible only to the ultra-wealthy. 

Robert Kiyosaki has long been a critic of fiat currencies and advocates for alternatives like Bitcoin, gold, and silver. He has been consistent in his stance that Bitcoin offers an opportunity to protect wealth in a way that traditional currencies cannot. With Bitcoin price approaching new highs, Kiyosaki has advised those hesitant about Bitcoin to reconsider and embrace the “FOMO” mentality. He suggested that this fear of missing out could drive more investors toward the crypto, benefiting those who act early.

The Rich Dad Poor Dad author emphasized, 

“The horse will be out of the barn and running. Why? Once Bitcoin breaks $100,000 only the ultra-rich such as corporations, banks, and sovereign wealth funds will be able to afford Bitcoin of any consequence. FOMO is good. Don’t be left behind!”

Kiyosaki Criticizes Fiat Savings

According to Robert Kiyosaki, those who save in cash or hold fiat currencies are “losers,” as he calls them, due to the devaluation brought on by inflation. He reiterated this message in his recent posts, where he underscored the importance of diversifying into assets like Bitcoin. His argument rests on the view that inflation and government monetary policies will continue to erode the purchasing power of traditional currencies.

As the Bitcoin price continues to rise, he forecasts that it will soon reach $100,000 and beyond. He pointed out that once this milestone is achieved, it will be almost impossible for most people to catch up.

Kiyosaki added, 

“Savers are losers…because cash is trash. Bitcoin will soon break $100,000. Once Bitcoin passes $100,000 it will be almost impossible for the poor and middle class to catch up.”

In addition to his commentary on the Bitcoin price, Robert Kiyosaki praised Michael Saylor, the founder of MicroStrategy, for his Bitcoin strategy. Kiyosaki referred to Saylor as a “genius” for utilizing the company’s treasury to purchase billions of dollars worth of Bitcoin. He believes that Saylor’s approach strengthened MicroStrategy’s balance sheet.

At press time, Bitcoin is trading at around $96,400, following a recent rebound from a low of $91,000 earlier in the week. The cryptocurrency has shown strong resilience, with analysts predicting a BTC rally toward $100,000 soon.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Here Are Key Fundamentals That Can Drive Cardano Price To $10

Published

7 hours ago

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November 29, 2024

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Cardano (ADA) is currently riding the ongoing bullish market rally with its price soaring by 4.74% in 24 hours to $1.0478. While Cardano traded below the $0.3 price mark for the better part of the past year, the coin now have the prospect to reclaim its All-Time High (ATH) above $3.099.

ADA has shown enough prospect per its performance outlook in the trailing 52-week period. The question now remain whether or not it can soar to the $10 price mark this current bull cycle. Optimistic analysts remain convinced that this is the start for ADA price despite breaching the $1 pyschologically important level.

For Cardano to jump to $10, here are the top factors to note moving forward;

1. Cardano Whale Impact

ADA is one of the most loved digital currencies by large buyers. Though this metric is down by 11% in 24 hours per IntoTheBlock data, the cummulative volume, $26.34 billion, outranks the $8 billion recorded by Ethereum.

Cardano ADA Whale 7D OutlookCardano ADA Whale 7D Outlook
Cardano ADA Whale 7D Outlook. Source: IntoTheBlock

The Cardano whale transaction recorded a 26.09 billion ADA in 24 hours. Over the past week, the whale embrace in ADA terms jumped from a low of 26 billion to a high of 41.83 billion.

This figure is prove that new liquidity is entering the ecosystem regularly. If this trend is sustained, it might help push the price of the ADA to new highs soon.

2. Ecosystem Upgrades and Growth Fundamentals

Meanwhile, for a very long time, Cardano ranked as the Layer-1 with more robust developer activity. The protocol showcased this strength over the past few months when it launched the Chang hard fork upgrade on the mainnet.

Notably, this upgrade moved the protocol to the decentralized governance era, a pioneering move in the L1 ecosystem.

Beyond this, Cardano recently announced the testing campaign for Hydra Doom. The protocol plan to stretch the limits of the Hydra scaling protocol by incentivizing its large community to participate.

Notably, this ecosystem upgrades and products paints the protocol as an appealing one. It can draw in new users, fuel ADA adoption and ultimate help push Cardano price forward.

3. Correlation With Bitcoin

Cardano has a very strong links to Bitcoin with a correlation coefficient of 0.94 as teased in an earlier Coingape report.

This figure can help it ride the current Bitcoin price rally until it possibly hits the $10 mark. With the massive capital influence into Bitcoin through the spot ETF product to corporate buyers like MicroStrategy, BTC has the chance to hit unprecedented highs.

If this projection play out, Cardano may also benefit from this massive sentiment to hit a $10 ATH.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Algorand (ALGO) Price Rockets 32% After Bullish Golden Cross

Published

10 hours ago

on

November 29, 2024

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Algorand (ALGO) price has seen a jump in the last 24 hours, with the token swaying between an intra-day high of $0.408 and a low of $0.2952. This rally has prompted analysts to project a price surge above the $1 mark, largely driven by the ‘Golden Cross’ observed on the ALGO price chart.

Algorand Price Surges Over 30%, Rally To $1?

In the last week, the Algorand price has been on a bullish rally with the price soaring over 60%. As of press time, ALGO price was trading at $0.3939, a 32% surge from the intra-day low. During the rally, ALGO’s market capitalization and 24-hour trading volume soared by 32% and 440% respectively to $3.27B and $1.38B, respectively.

This surge reflects the increasing investor confidence with ALGO price securing the top spot on today’s top gainers. Concurrently, the fact that 37% of holders are in profit indicates that a significant portion of the market is optimistic about the coin’s potential, while the remaining holders may either hold their positions in anticipation of the ALGO price recovery.

Source: IntoTheBlockSource: IntoTheBlock
Source: IntoTheBlock

Furthermore, ALGO’s open interest hit an all-time high (ATH) of $81 million, reflecting a 28% increase in just 24 hours. The rise in open interest suggests that a growing number of traders are betting on further gains for the token.

The high open interest, combined with increasing trading volumes, indicates that the bullish sentiment surrounding ALGO could persist in the near term.

ALGO Price Technical Analysis

From a technical perspective, the recent price surge in ALGO is supported by strong momentum indicators. The Relative Strength Index (RSI) for ALGO is currently at 83.63, suggesting that the token is in overbought territory. While this indicates that a short-term pullback or consolidation may be imminent, it also highlights the strength of the current bullish trend.

A key driver behind the recent bullish move is the formation of a “Golden Cross” on the ALGO price chart. A Golden Cross occurs when a short-term moving average crosses above a long-term moving average, typically signalling a shift toward bullish market conditions. In the case of ALGO, the 50-day Simple Moving Average (SMA) has recently crossed above the 200-day SMA, marking a technical buy signal for investors with the price projected to hit $1 soon.

ALGO/USD price chart (Source: TradingView)ALGO/USD price chart (Source: TradingView)
ALGO/USD price chart (Source: TradingView)

Additionally, the Chaikin Money Flow (CMF) for ALGO stands at 0.24, indicating that there is significant buying pressure. This is consistent with the high open interest and strong market volume, further supporting the view that investor sentiment remains positive.

Concurrently, analysts are optimistic about the potential for ALGO to surpass the $1 mark. Technical targets, based on the recent bullish breakout, suggest that the price could reach as high as $1.26, marking a potential 300% increase from current levels.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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