Hbar was launched in September of 2019 and its price bounced around in the 3 to 5 cent range for about 18 months before breaking out and achieving an all time high in the 57 cent range in September of 2021. Hbar then collapsed and set a new bottom in the 3.5 cent range in January of 2023.
If we apply the fibonacci retracement tool using the 57 cent all time high and the 3.5 cent bottom that followed, a 4.236 extension would set the price at about $2.30. Therefore, we are setting our target price in the two dollar range.
As the market plays out, we may have to revise our thinking and make adjustments to our exit strategy, but for now, Hbar has the potential to be a 2 dollar and thirty cent token.
This is not financial advice. Please do your own research.
