- HBAR breaks out of a falling wedge pattern after forming a double top, signaling a potential bullish reversal.
- RSI, MACD, and OBV indicators all point toward growing bullish momentum and market accumulation.
- Price holds support at $0.153 with rising volume, suggesting buyers are defending key levels.
- Short-term targets include $0.168 and $0.178, with a potential move to $0.201 if momentum continues.
Hedera Hashgraph’s native token, HBAR, is capturing traders’ attention as technical indicators point to a potential bullish reversal on the 1-hour chart. According to a recent analysis, HBAR has broken out of a falling wedge pattern following a double top formation, setting the stage for a short-term price surge.
HBAR Shows Early Signs of Bullish Shift, But Trend Still Weak. Price has recently tested and held support 0.153, signaling that buyers are still defending key levels.
A classic falling wedge pattern, often regarded as a bullish signal in technical analysis. After forming a double top, a bearish pattern that typically signals resistance, HBAR’s price action reversed course, breaking above the upper trendline of the wedge. This breakout suggests a shift from bearish to bullish momentum, with the price now eyeing higher levels.
Bullish Indicators Point to HBAR Recovery
The RSI is showing strong bullish momentum, indicating that buying pressure is outweighing selling pressure. This aligns with the breakout and suggests the price has room to climb.
A bullish crossover on the MACD further confirms the shift in momentum, as the MACD line crosses above the signal line, a reliable signal for trend reversals. Trading volume is increasing alongside the breakout, a key confirmation of the move’s strength. Rising volume during a breakout often indicates sustained interest from buyers.
The OBV indicator is forming a reversal with a noticeable uptick, signaling accumulation by market participants. This supports the idea that smart money is entering the market, driving the price higher.
If the trend reverses from here, HBAR could begin a recovery move, first targeting resistance at $0.168. A break above that level could open the path to $0.178, and if bullish momentum strengthens further, a move toward $0.201 could follow.
Technical Strength and ETF Speculation Fuel HBAR
Hedera’s unique features, such as its low-cost transactions, fair ordering, and carbon-neutral consensus mechanism, continue to position HBAR favorably in the crypto market. Additionally, speculation around a potential spot HBAR ETF filing could further unlock institutional demand, adding fuel to the token’s bullish outlook.
While the technical setup appears promising, traders should remain cautious. The crypto market is inherently volatile, and breakouts can fail if broader market conditions turn bearish.
HBAR’s recent breakout from a falling wedge on the 1-hour chart has traders buzzing with anticipation. Backed by strong technical indicators like RSI, MACD, volume, and OBV, the token appears primed for a upward move.
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