HBAR Price Prediction: Hedera’s Rally Steam – How High Can It Go?

Hedera HBAR Price Prediction: HBAR Forms Bullish Pattern-What's Next?

Following a recent sell-off, the crypto market is seeing a strong comeback; Bitcoin and other main cryptocurrencies are rebounding between 3-10%. Hedera (HBAR) is one particularly outstanding has jumped by 22% in just 24 hours. With a market capitalization of $9.57 billion and a trading volume of $568.7 million, signaling renewed investor interest and bullish sentiment.

Following positive news about HBAR, Canary Capital has submitted an amended S-1 form for its HBAR Exchange-Traded Fund (ETF), contributing to a surge in the token's price

Key Levels and Breakout Signals: Technical Analysis

Following a 55% drop from its all-time high on January 17, HBAR identified robust support between $0.1800 and $0.1750, levels last tested in March 2024. The most recent price movement of the token points to a possible positive breakout, therefore boosting traders' hope.

Bullish Momentum strengthens breakout confirmation.

Usually a signal of trend reversals, HBAR has formed a hammer candlestick pattern on the daily chart. Furthermore, the altcoin has effectively broken out from a declining trendline, therefore marking the conclusion of its most recent downturn.

Recovering from oversold circumstances, the Relative Strength Index (RSI) points to increasing buying momentum. Descending wedge formations have historically caused significant bullish breakouts, hence HBAR is a strong prospect for more upward movement.

Source: TradingView

Where Is HBAR Headed Next?

Technical indicators show a positive double-bottom pattern on the four-hour charts, a structure usually associated with trend reversals and upward continuation.

• If the momentum holds, HBAR might rise above $0.25 over the near term.

• A sharp break above $0.25 might drive the price toward the $0.26-$0.27 level, where the 50-day and 100-day moving averages cross as the next barrier.

• Consistent with prior market tendencies, HBAR may reach $0.30-$0.35 in the next months in a sustained optimistic situation.

• On the other hand, failing to hold above $0.22 could cause a pullback, therefore retesting the $0.18-$0.19 support zone prior to yet another upward try.

On-Chain Data Shows Growing Investor Confidence

With investor attitude improving, on-chain data supports the optimistic view even more. Coinglass claims that the open interest in HBAR has jumped 26.24% in the past 24 hours, now valued at $182.47 million. Rising open interest is usually a sign of growing trade activity, a prelude of more significant price swings.

Exchange flows also expose how investors are building HBAR. About $6.46 million worth of HBAR has been moved into private wallets at press time, suggesting increasing purchase demand.

Whale Movements & Exchange Flows Indicate Accumulation

Data on market positioning confirms optimistic dominance. Long traders have put over-leveraged positions at $0.2086, totaling $7.13 million; short positions at $2.386 amount to just $1.01 million. Bulls under control enable the market structure to support an ongoing upward trend.

Will HBAR Continue Its Uptrend?

Strong technical indicators, rising investor confidence, and positive on-chain metrics point to HBAR ready for a big breakthrough. Should the token keep momentum over important thresholds, it may keep rallying toward $0.30-$0.35 in the next months.

Failure to maintain gains over $0.22, however, would cause a brief downturn before yet another push higher.