Hedera (HBAR) Has Caught the Attention with Promising Technical Patterns Signalling a Potential Price Surge

Hedera is holding strong above its crucial support level and aiming to test resistance to start its upward journey.

Hedera (HBAR) has been making headlines with promising technical patterns that could signal a potential price surge.

HBAR is currently holding strong above a crucial support level and aiming to test a key resistance to begin its upward journey.

What Happened: Hedera is currently trading at $0.1655 with a 24-hour trading volume of $107.42M and a market cap of $6.99B.

Recently, Hedera hit a low of $0.1262 as market volatility triggered a pullback. However, this move saw buyers step in to defend a crucial support level at $0.120.

This support is reinforced by a high volume node (HVN) at $0.118 and the 0.786 Fibonacci retracement, highlighting its significance.

Rising From Crucial Support: A Glance at HBAR's Technicals

After bouncing off this support, Hedera clocked a strong rebound, aiming to retest the $0.180 resistance. This level is defined by a prior swing high and could pose a challenge.

However, a breakout above $0.180 might open the door for HBAR to continue soaring.

The Relative Strength Index (RSI) on the 4-hour chart shows a breakout from oversold territory, indicating a shift in momentum in favor of buyers. This breakout could be a positive indicator for those watching the technical trends of HBAR closely.

HBAR is forming a falling wedge, a reversal pattern that has been developing over several months of correction following a strong rally in late 2024.

The falling wedge is accompanied by declining volume and a bullish RSI divergence, suggesting that seller pressure is waning as the correction progresses.

This pattern usually occurs during a trending market, with a apex that typically coincides with a Fibonacci retracement level.

If a breakout occurs, the measured target for the falling wedge is at $0.335, a substantial increase from its current trading range.

Alternatively, the bull pennant, a continuation pattern, could propel HBAR to an even higher target of $0.525, reflecting the strength of its prior impulse wave.

These projections align with technical analysis, which notes that bullish pennants often signal a continuation of uptrends, with breakouts typically occurring above the upper trendline.

Key Levels to Watch:

Support: $0.120 (HVN) / $0.118 (Fib 0.786)

Resistance: $0.180 / $0.320-$0.460 (Monthly Supply)

HBAR Price Chart:

HBAR is poised for a significant surge, presenting an interesting opportunity for crypto investors in April 2025.

As the crypto market continues to evolve, Hedera's ability to balance technical promise with ecosystem growth will determine if it can reclaim its bullish momentum in 2025.

This analysis has been written by Harpal Grewal and used with permission from Factor, a leading indicator provider.

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