Hedera Hashgraph’s 23% jump reflects renewed confidence among large investors, though technical charts warn of near-term resistance around $0.20.
Hedera Hashgraph (HBAR) surged sharply on Monday, posting a 23.28% intraday rally before encountering resistance near the $0.19–$0.20 level. The sudden spike in volume and price action suggests institutional accumulation, even as late-session volatility trimmed part of the gains.
On the 4-hour chart, HBAR broke decisively above a descending structure, marking a Break of Structure (BOS) after weeks of sideways movement. The token rebounded from a strong demand zone between $0.155 and $0.165, where prior accumulation occurred, sparking renewed bullish sentiment.
The rally gained momentum as trading volume jumped to multi-week highs. Analysts noted that large-volume candles at key support zones often indicate smart-money positioning — a pattern observed across several high-cap altcoins in early November.
“This breakout from consolidation reflects growing institutional confidence in HBAR’s network fundamentals,” said BitXJournal digital asset strategist. “The clean move above $0.176 signals that buyers are regaining control, although the $0.20–$0.22 region remains a critical resistance to watch.”
Technical indicators also confirm the bullish setup. The recent Change of Character (ChoCH) on the chart implies a short-term shift in market structure, aligning with the broader recovery seen across DeFi-linked tokens. However, traders remain cautious as HBAR faces immediate rejection near the ‘strong high’ resistance zone — a region that previously triggered sharp reversals.
BitXJournal Experts caution that while the momentum remains intact, a retest of the $0.176–$0.180 range would be healthy before continuation. Sustained support above this level could open the door to a medium-term target around $0.24, aligning with September’s price ceiling.
With its 23% surge and break above key technical levels, HBAR’s recent rally underscores growing institutional engagement and bullish sentiment within the Hedera ecosystem. Yet, short-term volatility and overhead resistance near $0.20 suggest traders should watch closely for confirmation before calling a full trend reversal.
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.