Hedera has been one of the promising projects since the beginning, and with the latest rise in the price, the token is about to enter the top 10 cryptos. With a rise of over 30% in the past 48 hours, the token surpassed popular cryptos like Chainlink, Steller, & Litecoin to become the 11th largest crypto in the market. The growing strength of the token and the rise in bullish sentiments among the market participants suggest that the HBAR price is set to materialize a 60% rally to reach $1 soon.
Why HBAR price is rising?
Hedera is known for it’s strategic partnerships, which have strengthened the platform to a large extent. As per the new update, Swift, a global payment used by banks for international transfers, announced it’s partnership with Hedera by integrating it’s blockchain across North America, Europe, and Asia.
https://twitter.com/Dagnum_PI/status/1895651088143135185
After this major step, the institutional adoption is set to increase over the Hedera network, which may also make the chain a leader in the world of cross-border payments. With this, the HBAR price is also expected to undergo a notable change and trigger a strong upswing soon.
Will Hedera Price Reach $1?
The HBAR price has raised above the 5-week descending trend with a strong upswing, which suggests the bulls have reclaimed their dominance over the token. Besides, the technicals have turned bullish, which suggests the price is about to initiate a fresh ascending trend towards new highs.
The weekly chart of HBAR seems to be extremely bullish as the token is about to undergo the very first weekly Golden Cross. Besides, the weekly RSI has also triggered a bullish divergence before reaching the average levels. Therefore, the HBAR price is expected to revive a strong rise and reclaim 0.5 FIB at $0.289 in a short while. Once the bulls secure these levels, the Hedera price is expected to take off a strong bullish rally and reach higher levels.
