Hedera Price Forecast: HBAR Actions Hints at Possible Rally to $0.40

Highlights:

• Hedera has formed a bullish flag pattern
• Hedera’s bullish momentum driven by Hyundai and KIA partnership
• Upcoming SpaceX deal could trigger rally to $0.40 or higher

Hedera (HBAR) is one of the top trending cryptocurrencies at the moment, as reflected in its price. In the last 24 hours, HBAR has gained by 6.43% to trade at $0.321. Trading volumes for HBAR are also on the rise, up by 110.55% in the last 24 hours to stand at $921.2 million. Hedera’s rising momentum has a lot to do with the big news that has come up, pointing to the kind of use cases it could get going into the future.

Hyundai and KIA Partnership

Today, the trending news about Hedera is their partnership with Hyundai and Kia. Reports indicate that the partnership will help the two leading auto companies handle carbon emissions. This is a big deal for Hedera as it means other automakers could follow suit, further adding to the demand for HBAR tokens. The move has already seen optimistic projections for HBAR start to come up.

We look forward to tracking the success of Hedera partnerships with Hyundai, Kia and the automobile industry. #Hedera #HBAR @hedera https://t.co/MtkbmSpzbV

— hbar (@hbar) January 2, 2025

Many analysts are now projecting a possible rally for Hedera price with a target of $1 in the short term. This is supported by the fact that even in the recent correction where HBAR underperformed Bitcoin and some other top altcoins, the price remained above critical moving averages. This is a factor that could boost the price especially now that Bitcoin is pushing the broader cryptocurrency market higher.

Big Use Case in Space Communication Could Send Hedera Price Higher

Hedera’s price is also boosted by the fact that a major event is coming up on January 14, 2025. The latest hitting the market has a link to Elon Musk’s SpaceX. According to a tweet by crypto analyst Erik & Gizzy, Hedera and SEALCOIN will have a launch that could put blockchain firmly in the space realm. SEALCOIN is a new platform that aims to leverage decentralized ledger technology to increase the security of machine-to-machine interactions.

The world is waking up to HBAR.

It’s time.#XRP #XRPARMY #BTC #ETH #USDT #Tether #Ripple #SOL #RLUSD #SHIB #Ethereum #Bitcoin #stablecoin #XLM #Hedera #HBAR #RIPPLE #SEC #XRPL #NVIDIA #INTEL #EQUITYLABS #Nasdaq #sealsq #wisesat #SEALCOIN #chainlink #link #MAGA@bgarlinghouse… pic.twitter.com/rYVf4cFnaZ

— Erik & Gizzy (@pettersson_usa) January 6, 2025

This would, in turn, eliminate the need for human intervention in the whole process. In this context, the technology will be applied in satellite communication, among other futuristic space-based projects.

For Hedera, the partnership with SEALCOIN and SpaceX is an indicator of just how big its use cases are in the real world. It is a factor that could trigger FOMO into HBAR. That’s especially true as more investors get to learn of the kind of partnerships that Hedera has inked so far.

Hedera Finally Breaks Critical Resistance

Hedera could also benefit from its price now crossing a significant resistance level with high volumes. For over a month now, Hedera’s price has struggled to push through the $0.30 price level. Every attempt to rally through this price has been followed by a correction, even as the rest of the market pushes higher.

Now that Hedera has successfully pushed through $0.30 and there is big news ahead in the month, the odds are high that investors who were standing on the sidelines could start taking positions. The odds of a rally off Hedera’s current price are already evident in the charts.

Technical Analysis – Hedera Price Bullish Setup Points to Strong Breakout

From a look at Hedera’s 24-hour chart, Hedera has formed a bullish flag pattern. With the broader market turning bullish, the key level to watch for Hedera will be the upper limit of the flag at $0.324.

If this happens, Hedera’s price could easily rally to a high of $0.40 in the short term. It would also put the much coveted $1 price level for Hedera within reach in the short term.