HBAR Price Holds Firm Amid Tight Range, Market Eyes Potential Upside
Hedera (HBAR) continues to trade in a narrow range, with prices hovering around $0.226 after showing signs of renewed buying interest. The token has climbed nearly 1% in the past 24 hours, extending its steady recovery from the $0.21 support zone, where strong demand recently emerged.
HBAR’s price action suggests a period of accumulation below a critical resistance area, as seen on the chart. After breaking out from a descending wedge pattern in mid-September, the token entered a sideways consolidation phase. Currently, $0.23 acts as a short-term resistance, aligning with a previously established supply zone where sellers have historically stepped in.
The green support band near $0.20–$0.21 has been repeatedly tested, reinforcing it as a key demand zone. On the upside, the red resistance range between $0.25 and $0.26 represents the next major challenge for bulls if momentum continues to build.
Trading volume has slightly declined over the past sessions, indicating a period of indecision as traders wait for confirmation of a breakout. According to BITX market analysts, “HBAR’s current structure remains constructive. Sustained closes above $0.23 could trigger a stronger rally toward $0.26, but failure to hold support at $0.21 may renew bearish pressure.”
Support and Resistance Levels
- Immediate Support: $0.21 – $0.20 (green zone)
- Key Resistance: $0.23 – $0.26 (orange to red zones)
- Trend Indicator: Neutral to bullish near-term bias
HBAR’s higher lows and tightening structure point toward a potential breakout setup. The narrowing price range following the wedge pattern often precedes volatility expansion. If buyers can reclaim the $0.23 mark, short-term traders may target $0.25–$0.26, representing a 10–12% upside.
Hedera’s price action reflects growing consolidation strength, supported by firm demand around the $0.21 level. A decisive move above resistance could shift the token’s momentum decisively bullish, while rejection at current levels may keep it confined within the ongoing range.
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.