HBAR Set For Strong Bullish Breakout With Key Targets At $0.4481

HBAR consolidates near a key demand zone, hinting at a potential trend reversal. A breakout from the descending channel could trigger a strong bullish move.

The price of HBAR is up by 5.19% in the past 24 hours, trading at $0.1914 at the time of writing. The token’s 24-hour trading volume is $334.54 million, and its market cap is $6.84 billion.

Hedera Hashgraph’s (HBAR) price is consolidating inside a horizontal demand zone, which is offering support and preventing further decline for now.

The token is also capitalizing on the fresh wave of bullish sentiment that is sweeping through the crypto market, which is being fueled by Bitcoin’s (BTC) recent surge.

BTC’s strong upward momentum has ignited a broader market recovery, with altcoins now also gaining traction.

As institutional interest in crypto continues to grow, new avenues for investment are opening up, presenting unique opportunities for diversified portfolios.

What to Expect From HBAR Next

According to the latest technical analysis from Premium Signal, HBAR is currently accumulating near a key demand zone, which may indicate that the ongoing downtrend is becoming exhausted.

The price action is remaining inside a descending channel, and a breakout from this structure could trigger a strong bullish move.

If the bears are able to push the price lower, there is a strong support zone between $0.1600 and $0.1830. A stop-loss level can be set at $0.1328.

If the breakout occurs, then HBAR could rally to an initial target of $0.3112. Further upside targets are $0.3811 and $0.4481.

The Relative Strength Index (RSI) is currently at 36, which suggests that the price is becoming overbought. However, the price may be able to rally further if it breaks out of the descending channel.

A breakout from the descending channel could occur if the bulls can push the price above the $0.2159 resistance level. This could lead to a swift rally in the price of HBAR.

If the price does break out of the descending channel, it is likely to encounter resistance at the 0.382 Fibonacci level, which is located at around $0.28. If the bulls can overcome this resistance level, then the price could continue to rally to the 0.5 Fibonacci level, which is located at around $0.35.

If the price is able to close above the 0.618 Fibonacci level, which is located at around $0.42, then it could signal the start of a new bull market for HBAR. The next major resistance level is the 0.764 Fibonacci level, which is located at around $0.5.

The analysis provides a clear risk/reward setup, presenting a structured roadmap for potential upside targets. As the token’s price action unfolds, it will be interesting to see how it reacts to these technical levels and what the broader market trends bring to the table.

Key Levels To Watch

Support: $0.1600 – $0.1830

Resistance: $0.2159

Targets: $0.3112, $0.3811, and $0.4481

Stop-loss: $0.1328

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