Will Hedera (HBAR) Price See Further Upside After 55% Rally?

• Daily trading volume for HBAR has nearly doubled to $1.97 billion, and futures open interest is up 20.5% to $461 million.
• Its high correlation with Bitcoin (0.94) is also helping maintain momentum, as BTC sets a new all-time high above $121,000.
• Analysts predict a potential 100–150% upside for HBAR, with $0.70 as the next key price target.

Hedera Hashgraph

has surged by a massive 55% in the past 7 days, currently trading at $0.2485 with its market cap rising to $10.51 billion.

Amid its strong rally over the past week, HBAR is now in the list of top 15 crypto assets, overtaking the likes of Shiba Inu

, and Bitcoin Cash

.

Will the HBAR Price Rally Continue From Here？

After strong momentum last week, HBAR is attempting to regain lost ground following a drop from $0.40 earlier this year. Daily trading volume for Hedera nearly doubled to $1.97 billion, indicating continued bullish momentum.

Data from Coinglass also shows that the HBAR futures open interest is up 20.5% to $461 million. However, investors need to maintain greater caution as the price moves forward.

The Chaikin Money Flow (CMF) indicator for Hedera shows strong capital inflows into HBAR, reflecting growing bullish sentiment.

However, with the CMF nearing the 0.20 level, a zone, often associated with overbought conditions.

Analysts warned that the altcoin could be due for a short-term correction if momentum fades and profit-taking sets in.

Hedera CMF Indicator: Source: TradingView

Hederas correlation with Bitcoin

is currently sitting at the strong support of 0.94. Earlier today, Bitcoin reached a new all-time high, surpassing $121,000.

BTCs upward momentum is boosting the broader crypto market, including Hedera, as investor sentiment tends to move in sync across major digital assets. This positive correlation is helping shield HBAR from a potential pullback, despite signs of overbought conditions.

Whats the Next Target for Hedera Hashgraph？

Market analysts continue to remain bullish about HBAR moving ahead, predicting another 100-150% upside from here. Hedera has finally shown signs of a strong breakout, according to a prominent crypto market analyst.

While the price action is gaining momentum, the analyst noted that the bullish count is yet to be fully confirmed. Still, it could be among the best penny cryptos to buy this month.

$HBAR minimum target: $0.7

Finally a strong breakout, but it still has to confirm the bullish count.

Lets see if the momentum is enough to get us above the last high. pic.twitter.com/afNlKMf3yD

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.