- HBAR is showing bullish reversal signs, bouncing from $0.12761 and breaking above resistance at $0.20075.
- After a breakdown in March, strong support at $0.12761 led to the current rebound.
- The breakout above $0.20075 targets $0.25113, with potential for further gains to $0.32270 and $0.40087.
- Support at $0.20075 is critical; failure to hold could bring the price back to $0.15038 and $0.12761.
Hedera (HBAR) is showing early signs of a bullish reversal after months of bearish price action. The cryptocurrency recently experienced a strong recovery, bouncing from a local bottom near $0.12761 and climbing above a key resistance level at $0.20075. This upward momentum signals renewed buyer interest as HBAR looks to reclaim higher ground.
The 4-hour chart shows that HBAR previously formed a bearish flag pattern in early March, followed by a sharp breakdown that pushed the price below crucial support at $0.15038. This breakdown confirmed a bearish continuation and led the token to retest lower levels around $0.12761. However, this zone acted as a strong support base, from which HBAR started its current rebound.
HBAR Bulls Aim for $0.40 With Momentum Shift
The recent breakout above $0.20075 marks a significant shift in sentiment. HBAR is now targeting the next major resistance at $0.25113. A successful flip of this level could trigger a larger rally toward the $0.32270 mark, with an extended bullish target of $0.40087 if momentum continues. These levels represent important psychological zones that could determine the sustainability of HBAR’s recovery.
On the flip side, immediate support is now seen at $0.20075. If the bulls fail to hold this level, the price could revisit lower supports at $0.15038 and $0.12761. These areas will be crucial for maintaining the bullish structure and avoiding a deeper correction.
Technically, the 20-period VWMA (Volume-Weighted Moving Average) is beginning to curve upward, supporting the current bullish bias. While the long-term trend remains cautious, the short-term momentum has shifted in favor of the bulls.
HBAR traders should closely monitor the price action around the $0.25113 resistance. A clean breakout and consolidation above this level could confirm a trend reversal, attracting more volume and attention from investors.
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