HBAR Forms Bullish Patterns, Targets $0.335 and $0.525 in Breakout Move
- HBAR rebounds from $0.1262 and holds strong above key support at $0.120
- Falling wedge and bull pennant patterns suggest a potential breakout toward $0.335 and $0.525
- RSI bullish divergence and declining volume hint at weakening selling pressure
- Key levels to watch include $0.180 resistance and the supply zone between $0.320 and $0.460
Hedera (HBAR) has caught the attention with promising technical patterns signaling a potential price surge. Hedera is holding strong above its crucial support level and aiming to test resistance to start its upward journey.
HBAR recently hit its low at $0.1262, triggered by market volatility, but was able to hold support and strongly rebound from this level. As of now, Hedera is trading at $0.1655 with a 24-hour trading volume of $107.42M and a market cap of $6.99B.
HBAR Eyes $0.335 and $0.525 Target
Despite these short-term pullbacks, Hedera is poised to surge significantly. From a technical point of view, HBAR is in a falling wedge and bull pennant formation, both classic bullish setups that could drive significant upward momentum in April 2025.
The falling wedge, a reversal pattern, has been forming over months of correction following HBARs strong rally in late 2024. Accompanied by declining volume and a bullish RSI divergence, this setup suggests waning seller pressure. If a breakout occurs, the measured target for the falling wedge points to $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 include the $0.120 support, reinforced by a high volume node (HVN) and the 0.786 Fibonacci retracement, and the $0.180 resistance, a prior swing high. Beyond that, HBAR may face hurdles between $0.320 and $0.460, a monthly supply zone active since March 2021.
For crypto investors searching for opportunities, HBARs current setup presents a compelling case. Monitoring the $0.120 support and RSI breakout confirmation will be crucial for timing entries. As the crypto market evolves, Hederas ability to balance technical promise with ecosystem growth will determine if it can reclaim its bullish momentum in 2025.
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Read more: https://www.tronweekly.com/hbar-forms-bullish-patterns-targets-0-335-and-0-525-in-breakout-move/
Text source: TronWeekly
