- HBAR forms a bullish falling wedge breakout after a 31% weekly gain, signaling a potential upside trend reversal.
- Despite a recent 1.22% dip in price and volume, Hedera’s Nvidia partnership and Chainlink CCIP integration boost its DeFi and AI capabilities.
- The analyst, with significant HBAR gains, anticipates a major price surge following the falling wedge breakout, urging attention to its potential.
After a 31% weekly surge, HBAR of Hedera Hashgraph has now formed a falling wedge breakout on the technical chart. This indicates the price is poised for a trend reversal on the upside, especially after a period of consolidating within the pattern.
In the 1-day chart, the price is testing as indicated by the lower green circle and has decisively broken above the upper trendline of the falling wedge, shown by the lower red arrow pointing to it. However, this breakout should be confirmed with strong volume indicators like the On-Balance Volume (OBV).
The OBV is a key volume-based momentum metric that depicts the flow of volume to predict changes in the asset’s price. A rising OBV coupled with an upside price breakout would further reinforce the bullish outlook and vice versa.
The analyst here holds a massive investment in the Hedera token that has already generated substantial profits. HBAR’s anticipated breakout has strengthened his belief in the asset’s potential to bring further gains.
My largest crypto position (still 100%s up on) about to explode! PAY ATTENTION to Hedera Hashgraph $HBAR this cycle!! Falling wedge breakout imminent and a major moving likely coming in the following weeks OBP!
HBAR Enhances DeFi and AI with Chainlink Despite Market Downturn
In the last 24 hours, Hedera’s price has dropped 1.22% to $0.15, and trading volume has also declined 5.36% to $509.62 million, in line with the broader market momentum. Hedera, a decentralized public ledger and crypto ecosystem, made waves after announcing its partnership with Nvidia. Last week, it deployed Chainlink’s CCIP, advancing AI technology and enhancing cross-chain DeFi solutions.
As reported by TronWeekly, developers now gain access to Chainlink’s dependable oracle products, like Data Feeds and Proof of Reserve, which support the integrity of innovative DeFi and tokenized real-world asset (RWA) platforms. Chainlink CCIP, which is known for $20 trillion+ of on-chain value enablement and battle-tested infrastructure, brings exceptional security and developer flexibility.
Besides these enterprise integrations, Hedera also rolled out NFT flexibility, automated token airdrops, and improved AI communication, thus enhancing network versatility.