Date: Tue, Dec 24, 2024, 09:07 AM GMT
Today, the cryptocurrency market is showing signs of recovery after recent corrections. Bitcoin (BTC), which dropped to $92,000 in past week, has now regained some momentum, trading above $94,000.
Following this, top altcoins, including Hedera (HBAR) and Stellar (XLM), are also back on the green track. HBAR has surged by an impressive 11% following a key breakout, while XLM is up by over 3%, signaling that a similar move to HBAR might be on the horizon.
Hedera (HBAR)
Hedera (HBAR) is gaining momentum today after breaking out from a falling wedge pattern near the $0.27 level, pushing into a horizontal resistance zone. Currently trading at $0.30, the token is approaching a resistance level of $0.3111.
A successful breakout above this level could pave the way for further gains, with the next resistance zones around $0.33 and $0.39—potentially a 25% increase from the current level.
The Relative Strength Index (RSI) and MACD indicators on the 4-hour chart support the bullish sentiment, suggesting that momentum remains in favor of the bulls.
Stellar (XLM)
Similar to HBAR, Stellar (XLM) appears to be following a bullish trajectory. The token is approaching the upper resistance of its falling wedge pattern and is trading at $0.37. If XLM manages to break out above the key resistance, it could target its next resistance zone at $0.4550, representing significant upside potential.
The indicators on XLM’s 4-hour chart also suggest that bullish momentum is building, making it a coin to watch closely in the coming sessions.
Both HBAR and XLM are showing promising technical setups, with breakout scenarios likely to drive further price gains. Traders and investors should keep an eye on these critical resistance levels as the market attempts to recover.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
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