Technical analysis by sorooshx about Symbol HBAR on 4/17/2025

HBAR Analysis (April 17, 2025)Current Price:As of April 17, 2025, Hedera Hashgraph (HBAR) is trading at approximately $0.1617, reflecting a 1.76% increase over the past 24 hours.⸻📊 Technical AnalysisPrice Action & Patterns:•HBAR recently tested a key support level at $0.12516 on April 7 and has since rebounded, indicating potential bullish momentum.•The emergence of a bullish engulfing pattern on the weekly chart suggests a possible trend reversal after a correction period.Indicators:•Moving Averages: Price is currently moving within a falling trend channel, signaling caution for medium-term traders.•MACD & RSI: Improving momentum is likely, but traders should monitor these indicators closely for confirmation.⸻🧭 Fundamental AnalysisAdoption & Ecosystem:•HBAR continues to gain adoption in enterprise applications, thanks to its high throughput and low fees.Institutional Interest:•A recent Nasdaq filing for a Spot HBAR ETF could attract institutional investment and increase liquidity.⸻📈 2025 Price Forecast•Short-Term (Apr–Jun): Expected to trade between $0.13829 – $0.2073, with an average of $0.149652.•Mid–Long Term: Projections vary from $0.25 up to $0.78, depending on adoption and market sentiment.⸻✅ SummaryHBAR shows early signs of a bullish reversal supported by price action and growing institutional interest. However, caution is advised due to the ongoing medium-term downtrend. Key resistance and support levels should be monitored.