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HBAR targets $0.32 after blasting through the $0.24 resistance level

Key takeaways

  • Hedera’s HBAR is the third-best performer among the top 20 cryptocurrencies by market cap.
  • The coin is targeting the $0.32 resistance level after overcoming $0.24 a few hours ago.

HBAR rallies as BTC sets a new all-time high

The cryptocurrency market is having a positive start to the week thanks to rallies by Bitcoin, Ether, XRP, HBAR, and other major coins and tokens. The rally comes after last week’s excellent performance and could extend further as investors prepare for a crucial week in the United States.

Bitcoin has set a new all-time high of $122,800 a few minutes ago after adding 4% to its value in the last 24 hours. Ether and XRP, the two leading altcoins, are also trading in the green.

HBAR, the native coin of the Hedera blockchain, is up 10% in the last 24 hours, making it the third-best performer among the top 20 cryptocurrencies by market cap. The coin has now surpassed the $0.24 resistance level and could rally higher soon.

HBAR targets $0.32 as bulls look to extend rally

The HBAR/USD 4-hour chart is bullish but inefficient, suggesting that the pair could sweep liquidity to the downside before embarking on any upward rally. The technical indicators are bullish, suggesting a further rally in the near to medium term.

The Relative Strength Index (RSI) of 74 shows that HBAR is heading into the overbought region if the positive momentum holds. Furthermore, the MACD lines are within the positive zone, indicating a bullish bias.

HBAR/USD 4H chart

If the bulls remain in control, HBAR could rally towards the first major resistance level at $0.28452, last tested on March 2nd. In the event of an extended rally, HBAR could retest the $0.32281 level for the first time since January. 

However, if the bulls fail to leverage this momentum, HBAR could retest the ILQ level at $0.22556 in the coming hours or days. An extended bearish condition would see HBAR drop to the TLQ level at $0.19152.

The post HBAR targets $0.32 after blasting through the $0.24 resistance level appeared first on CoinJournal.

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Stellar (XLM) targets 30% jump as Bitcoin surges past $122.5K on ‘crypto week’

  • Bitcoin crosses the $122,500 milestone on Monday, bolstering overall market sentiments.
  • Optimism emerges as US lawmakers prepare for crucial crypto votes this week.
  • XLM targets continued uptrends to $0.681 resistance.

Bitcoin opened the week on a bullish leg as US regulatory developments propelled prices to historic highs of $122,540 on Monday.

BTC’s rally to new all-time highs has reignited enthusiasm in the cryptocurrency market, and Stellar’s native token appears ready to lead altcoin breakouts.

XLM has breached crucial resistances with soaring volumes, signaling extended gains in the short term.

The current broad-based rallies support the altcoin’s bullish trajectory.

Analyst Javon Marks trusts XLM might surge to the next obstacle at $0.681.

That would mean a 29.94% upswing from Stellar’s current market price of $0.4771.

Legislative moves propel BTC to ATHs

Bitcoin surpassed the $120,000 milestone for the first time today as investors braced for the long-awaited regulatory modifications in the US.

Notably, the United States House prepares to vote on three key crypto-related bills this week.

First and foremost, they will debate the GENIUS Act, which focuses on regulating stablecoins such as USDT and USDC.

It will head to Donald Trump if passed. The US president has vowed to support crypto growth in the United States.

Also, the House will vote for the CLARITY Act.

It aims to monitor crypto market structures.

Nate Geraci's X Post
Source: Nate Geraci’s X Post

Finally, the Anti-CBDC Surveillance State Act proposes prohibiting the Fed from issuing a central bank digital currency.

Besides the political theatrics, these legislative moves will reshape the cryptocurrency regulatory tone.

The possibilities of friendlier policies due to the current pro-crypto government ignited optimism in the digital assets sector.

XLM breaks out after consolidation

Stellar’s native token capitalized on the broad-based bull rally to overcome a key resistance at $0.47.

The move has grabbed analysts’ attention, with one expecting continued XLM surges to the obstacle at $0.681.

Policy tailwinds, price charts, and Bitcoin’s outlook support XLM’s 30% potential upswing in the near term.

Can XLM surge 30%

Javon Marks’ Stellar chart resembles Rose Signals, both pointing to extended surges.

Their chart shows the current breakout materialized after multiple higher lows on XLM’s weekly chart.

That indicates increased accumulation, which is crucial for stable uptrends.

The chart suggests possible surges to $0.6719.

A Crypto Chart

All eyes are watching D.C.

Cryptocurrencies appear poised for continued rallies with massive legislative developments in the United States.

The momentum will spike further if the House passes any or all bills this week.

For instance, passing the crypto structure or stablecoins frameworks might see investors rotating more capital into crypto.

That would mean massive gains for Bitcoin and altcoins, including XLM.

However, digital assets are never without risks. Sudden Bitcoin corrections or bills’ rejection could mean substantial selling pressure.

Losing the $0.47 barrier will delay XLM’s potential rally.

The post Stellar (XLM) targets 30% jump as Bitcoin surges past $122.5K on ‘crypto week’ appeared first on CoinJournal.

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Bitcoin hits another all-time high at $123,000, beats Amazon to become the 5th largest asset by market cap

  • According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion.
  • Bitcoin reached a new all-time high of $123,091.61 on Monday, as per CoinMarketCap data.
  • Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

Bitcoin surged past the $120,000 mark for the first time earlier on Monday, driven by sustained institutional demand, strong exchange-traded fund (ETF) inflows, and renewed optimism surrounding upcoming US crypto legislation.

The world’s largest cryptocurrency was last seen at $122,559, up 3.23% at the time of writing.

Earlier, it reached a new all-time high of $123,091.61, as per CoinMarketCap data.

Over the past five days, Bitcoin has gained approximately 12%, extending its rally to a 103% increase compared to the same time last year.

According to data from companiesmarketcap.com, Bitcoin’s current market capitalisation stands at $2.407 trillion, making it the fifth-largest asset globally, ahead of Amazon, Silver, and Google.

Only Gold, NVIDIA, Microsoft, and Apple command higher market values.

ETF flows signal institutional conviction

Spot Bitcoin ETFs in the United States have pulled in $16.2 billion in cumulative inflows since April, according to data from SoSoValue.

The rise in ETF demand comes amid a broader shift among asset managers and hedge funds seeking exposure to Bitcoin as part of a diversified macro allocation.

Just last week, the BTC ETFs saw two days with over $1 billion in inflows.

On Thursday, US spot BTC ETFs registered $1.18 billion inflows, which were followed by a $1.02 billion inflow on Friday.

Crypto Week in Washington fuels optimism

This week marks the beginning of the  “Crypto Week” in Washington, D.C., where lawmakers are expected to debate and possibly advance two key pieces of legislation: the CLARITY Act and the GENIUS Act.

The CLARITY Act aims to establish a formal regulatory framework for cryptocurrencies, clarifying jurisdiction between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC)—a longstanding demand of the crypto sector.

The GENIUS Act, meanwhile, proposes a legal foundation for US dollar-pegged stablecoins, potentially paving the way for a clearer regulatory pathway for firms issuing or working with such digital assets.

Public companies continue BTC Accumulation

Market confidence is also reflected in corporate treasury activity.

According to available public disclosures, more than 125 publicly listed firms now collectively hold 847,000 BTC, which accounts for approximately 4.03% of Bitcoin’s capped 21 million supply.

Among these firms are high-profile names such as Strategy, Tesla, and several Bitcoin mining companies that retain coins on their balance sheets.

Analysts suggest these holdings add a layer of long-term price support, as most corporate buyers are unlikely to sell into short-term rallies.

Is above $130,000 next for BTC?

In a note last week, 10X Research said the latest breakout was driven by a clear shift in market structure toward a bullish trend.

While the firm had earlier anticipated a broader summer consolidation, its outlook turned more optimistic in recent weeks due to limited upside positioning, creating conditions for a sharp move higher.

The firm noted that a fresh trading signal was triggered when Bitcoin posted a new short-term high, indicating the rally may continue.

Historically, similar signals have delivered a median gain of 20%, with six out of ten instances resulting in positive returns.

If the pattern holds, 10X Research said Bitcoin could climb to $133,000 by September.

The post Bitcoin hits another all-time high at $123,000, beats Amazon to become the 5th largest asset by market cap appeared first on CoinJournal.