Key Takeaway
- HBAR is up 2.88%, trading at $0.1978, with rising trading volume showing new interested investors
- A breakout above $0.25 to $0.30 would mark a bullish trend but if that doesn’t succeed, it may lead to a retest of support at $0.16-$0.17.
- RSI at 47.48 reflects a neutral current trend and signals traders to stay watchful for a move higher towards 50 to mark stronger buying interest.
Hedera has shown signs of recovery, with its price currently sitting at $0.1978, which is an increase of 2.88% in just 24 hours. The recent trading volume has also seen a spike reaching $219.31 million, showing that new sets of investors are taking an interest in the market.
At the same time, Its market cap stands at $8.35 billion, which makes HBAR a strong mid-cap crypto. The supply in circulation is a total of 42.21 billion HBAR which continues to provide liquidity to the market, contributing to steady trading activity.
Technical Analysis: Potential Breakout Ahead?
After its peak of $0.4 on January 17, 2025, HBAR’s price has been visibly following a descending trendline, which is also seen as a strong resistance level. The 50 EMA is acting as a short-term resistance level, while the 200 EMA remains higher, indicating that a long-term bullish shift is yet to be confirmed.
However, there is a solid support zone between $0.16 and $0.17, that has bounced back from multiple times and injects stability and drives recent recovery gains.
If the market breaks above the $0.25 to $0.30 resistance zone, It could signal a potential bullish reversal. But if that doesn’t happen result in a retest of lower support levels before another breakout attempt.
What’s Next for HBAR?
The Relative Strength Index (RSI) at 47.48 suggests a neutral momentum, which means the market is yet to give a signal for a buy or sell. If the RSI crosses above 50, this could mean buyers’ pressure rising and help increase chances the HBAR will break resistance.
With investor confidence returning and trading volume rising, the next few weeks will be a key to knowing whether HBAR will keep walking up or face another pullback. Traders will be closely watching price action near key resistance levels for further confirmation of a breakout.
