Hedera Hashgraph shows strength as demand grows, but major resistance lies ahead
Hedera Hashgraph (HBAR) posted fresh gains this week, rallying on the back of renewed institutional interest and stronger network activity. The token climbed to $0.223, briefly touching $0.227, before facing selling pressure near the critical $0.23 resistance zone.
The 4-hour chart reveals that HBAR recently broke out of a descending wedge pattern, a formation often considered bullish. Buyers managed to defend the $0.21–$0.22 demand zone, where strong accumulation was visible. The rally has now pushed price action into the orange resistance band at $0.23, which has historically acted as a supply area.
Trading volume reached 13.5 million, signaling heightened participation and reflecting the inflow of institutional buyers. As BITX market strategists noted, “HBAR’s rebound is volume-backed, which is a healthy sign. However, the $0.23 resistance must be cleared before we can talk about a sustained uptrend.”
Support and resistance levels to watch
- Immediate resistance: $0.23–$0.25 zone
- Major resistance: $0.26–$0.27 supply zone
- Key support: $0.21–$0.22 demand area
- Next support: $0.19 psychological level
HBAR’s rebound highlights growing confidence from institutions, particularly as the Hedera ecosystem expands into enterprise blockchain solutions. The price is now at a decisive juncture. A confirmed breakout above $0.23 could open the door for a move toward $0.25–$0.27, where the next strong resistance lies.
If bulls fail to secure this level, however, a retest of $0.21 support is likely. BITX Analysts warn that the consolidation phase could continue until the market sees a clear catalyst to drive momentum.
Overall, Hedera Hashgraph’s rally underscores renewed investor interest and stronger fundamentals, but the immediate challenge remains overcoming the $0.23 barrier, a level that will decide its short-term trajectory.
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.