HBAR’s 75% rally in July – Here’s where traders can plan to take profits!

Key Points

1. Hedera's price surged 75% in July, with a 24% increase in 24 hours and daily trading volume reaching $1.33 billion.

2. The derivatives market showed strong short-term bullish conviction, with a 48.9% increase in 24-hour Open Interest.

3. Technical analysis identified key levels: Point of Control at $0.193, Value Area High at $0.255, and Value Area Low at $0.144.

4. The $0.22-level could act as a demand zone in case of a retracement, while a breakout past $0.255 might offer a buying opportunity.

5. The rally was not solely speculative, as indicated by the bullish 1-day market reading.