- HBAR rebounds from $0.12 and tests resistance between $0.15 and $0.17.
- A breakout above $0.17 could open the path to $0.20 and $0.33.
- Moving averages still show a downtrend, but momentum is shifting.
- Increased volume and SMA crossovers may confirm a bullish reversal.
Hedera (HBAR) is currently trading near $0.15 after recently bouncing off a low near $0.12. While the broader market trend has been bearish, this recent price action suggests a potential shift as buyers step in at key support levels. The current move toward resistance zones shows growing interest that could mark the beginning of a bullish reversal.
Also Read: HBAR Approaches Make-or-Break Zone with $0.098 in Bearish Crosshairs
HBAR Rebound Targets $0.20 and Beyond
From a technical perspective, HBAR has been in a downtrend for several weeks, confirmed by the position of the moving averages. The short-term 20 and 50-period simple moving averages (SMAs) remain below the longer-term 100 and 200 SMAs, signaling overall selling pressure.
However, the recent price rebound has pushed HBAR closer to the critical resistance range between $0.15 and $0.17, where the price is testing its ability to break through.
Breaking above this resistance zone is crucial because it could reverse the bearish momentum. If HBAR holds above $0.15 and surpasses $0.17, it may trigger a wave of buying that targets the next major resistance levels at $0.20 and $0.33.
These levels were previous highs and consolidation points where sellers had previously stepped in, so clearing them would be a strong signal that buyers are gaining control.
Additionally, traders should watch for confirmation through volume increases and potential crossovers in the moving averages. For example, if the 20 SMA crosses above the 50 SMA, it would be an early sign of shifting momentum from bearish to bullish. Also, maintaining price above the moving averages would support the likelihood of a sustained upward move.
However, while Hedera remains in a larger downtrend, the current price action around $0.15 suggests a battle between buyers and sellers that could lead to a bullish breakout. A successful move past the immediate resistance could set the stage for a recovery and higher price targets in the near term.
Read More: HBAR Drops 11%, But Analysts Predict Major Rebound. Here’s Why
