Key Insights:
- HBAR is targeting a 180% upside with price levels of $0.504 and $0.962.
- Recent increases in open interest signal rising market participation for HBAR.
- President Trump’s zero capital gains tax proposal could fuel investor confidence in HBAR.
HBAR price showed strong bullish potential, with analysts predicting a possible 180% increase. A combination of favorable technical patterns and rising sentiment pointed to substantial upside for the token.
Additionally, the potential implementation of President Trump’s proposed zero capital gains tax for U.S.-based cryptocurrencies could have acted as a catalyst for HBAR, driving further investor optimism.
HBAR Price Targets for HBAR: A 180% Upside
Market analyst JavonTM1 set HBAR price targets at $0.504 and $0.962, suggesting an upside of more than 180%. The recent movement on HBAR’s price chart indicated a possible breakout above key resistance levels. With rising open interest and growing market activity, HBAR appeared to be on a solid trajectory toward those targets.
Market momentum shift is the support for the bullish outlook. Now, the price action of the HBAR is considering a breakout from a crucial pattern, where it can push for the predicted targets. As HBAR currently trades in a steadily more favorable market, the growing interest from traders could provide a further boost to momentum going forward.
Open Interest indicates the growing market participation
A key indicator of HBAR’s growth potential was the rise in open interest (OI), which measured the total value of outstanding contracts. At present, HBAR’s OI stood at $72.7 million, mostly concentrated in perpetual contracts. This suggested short-term speculative behavior, which often preceded sharp price movements.
The OI of HBAR has been up 11.88% over the past 24 hours reflecting growing market participation and traders showing interest in the asset. With so much market activity could be a signal of a larger bullish trend ahead, as more traders are putting themselves ahead of potential price movements. The increase in OI, especially in perpetual contracts, suggests a short-term bullish sentiment, which could be an indicator of further upside.
CW8900’s Analysis: Falling Wedge Pattern and Breakout Potential
Markets’s analyst CW8900 says that HBAR is constructing a falling wedge pattern which is a bullish reversal formation. The pattern is lower lows and lower highs within converging trendlines which implies that HBAR is close to an important breakout point. With the HBAR price nearing the apex of the wedge, we should expect a breakout above the upper trendline to cause a significant price rally.
CW8900’s short-term target for HBAR was $0.62, located at the 1.618 Fibonacci extension level. If HBAR broke above the 0.382 Fibonacci level, currently acting as resistance, price could have climbed toward the $0.62 target—potentially marking the start of a broader rally.
Trump’s Zero Capital Gains Tax Proposal Could Boost Investor Confidence
President Trump’s proposal for eliminating capital gains tax on U.S.-based cryptocurrency investments could have provided a major confidence boost for HBAR investors. Removing this tax would have created a more favorable environment for long-term crypto holders, making digital assets like HBAR more attractive.
With more cryptocurrencies such as HBAR being perceived as a hedge against inflation. The opportunity to pay lower tax rates will lure institutional investors and hedge funds into the market. By implementing the zero capital gains tax policy, there would be lots of growth for the HBAR market. And as a result, there would be more bullish sentiment in the cryptocurrency space.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss. That may occur from investing in or trading. Please do your research before making any financial decisions.
