Hedera (HBAR) is moving in a positive price movement following changing conditions in the crypto market. According to CoinMarketCap, the HBAR price has surged by 4.13% over the last 24 hours and 1.05% over the last week.
At the time of writing, HBAR is trading at $0.09025, with a trading volume of $162.95 million, which has surged by 175.76% over the last 24 hours. However, its market capitalization stands at $3.9 billion, which is also up by 4.13%.
Source: CoinMarketCap
Also Read: HBAR Price Near $0.09 as Bulls Eye $0.155 Breakout Zone
HBAR Breaks Trendline on Daily Chart, Eyes $0.18 Rally
Furthermore, the crypto analyst ZAYK Charts highlighted that Hedera (HBAR) has shown a notable technical shift after breaking above a long-standing descending trendline on the 1-day chart.
This breakout signals weakening bearish pressure and improving bullish momentum, suggesting a potential change in overall market structure from consolidation into upward expansion driven by stronger buyer participation.
Source: ZAYK Charts’ X Post
A move towards the area around $0.18 seems likely, which is also the area of previous accumulation and strong resistance levels.
In case the bulls manage to continue their strength and the breakout is confirmed on retestings, there may be an opportunity for a strong bull move. Nevertheless, high volume and a positive market environment are necessary for the growth trend to continue.
HBAR Technical Outlook Reveals Cautious Optimism
According to TradingView, HBAR demonstrates volatile price action, as an aggressive jump was followed by a pause. The current level is at approximately $0.09022, having settled close to a convergence point of several moving averages.
But the rejection from the long-term resistance level of 200-day SMA at $0.09228 indicates that the bearish sentiment remains dominant over the move.
Source: TradingView
Technical analysis shows that the RSI of 55.34 indicates neutrality as it peaks after reaching the overbought region. Wicks within the range of $0.0940 indicate a heavy sell-off, indicating that traders are taking profits on any upward move.
For there to be a reversal in the trend, HBAR must sustain itself above the moving average ribbon and change its red resistance to a support level.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hedera EXPLODES as HBAR Targets $1.80 Breakout After McLaren Deal
