Price action suggests potential breakout if resistance near $0.24 is cleared
Hedera Hashgraph (HBAR) has been trading in a narrow range around $0.22, showing signs of accumulation after weeks of declining momentum. The latest chart structure highlights a descending wedge pattern that recently broke to the upside, offering early signals of recovery.
After testing lows near $0.19, HBAR bounced from its strong demand zone, marked in green, where buyers stepped in aggressively. Since then, the token has been consolidating between support at $0.20 and resistance near $0.24, with market participants closely watching for a decisive move.
“The ability of HBAR to hold above $0.20 underscores strong buying interest at these levels,” said BITX market strategist. “If bulls manage a daily close above $0.24, the next target could quickly shift toward the $0.27–$0.28 resistance area.”
Key levels to watch
The chart highlights an overhead supply zone between $0.25 and $0.27, where previous rallies stalled. A breakout beyond this range could open the door toward $0.30 and higher, while a failure to hold the $0.20 support might expose HBAR to further declines toward $0.18.
Volume patterns also suggest that sellers have been losing strength, with declining pressure since mid-September. This aligns with the wedge breakout structure, which often precedes bullish continuation phases if confirmed by strong volume.
Traders remain cautious, but the technical picture favors a potential upside breakout if buyers sustain momentum above resistance. Until then, the $0.20–$0.24 range will remain the battleground between bulls and bears.
“HBAR is entering a decisive phase,” According to BITX analysts. “The longer it holds above $0.20, the stronger the case for a trend reversal.”
For now, Hedera Hashgraph sits at a crossroads, with the $0.22 level acting as a pivot. Market participants are awaiting confirmation of direction, making the next few sessions critical for its short-term outlook.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.