Hedera Hashgraph (HBAR) Technical Breakdown Points Toward $0.072 Target

HBAR's weekly chart flashes a bullish signal—traders are eyeing the next key resistance.

The Setup on the Screen

A clear pattern emerges from the recent price action. The weekly candlestick formation, combined with volume trends, suggests accumulating momentum. It's not just hopium; the technicals are aligning for a potential leg up.

Reading the Tape

Key moving averages are being tested. Support levels have held firm through recent volatility, creating a springboard for the next move. The $0.072 level isn't a random number—it represents a significant historical inflection point that, if breached, could open the door to higher valuations.

The Road Ahead

All eyes are on whether buying pressure can sustain. A clean breakout above immediate resistance would confirm the bullish thesis. Of course, in crypto, a 'sure thing' is about as reliable as a traditional banker's promise—always hedge accordingly. The stage is set; now we see if the market follows the script.

Hedera Hashgraph Struggles Around Key Support Zone

The focus of market analysts has shifted to the weekly chart following a warning from well-known crypto analyst CryptoPulse regarding the chart indications of the price of HBAR. According to the analysis, the current level below which the price of HBAR is now found is an important support zone fixed between $0.124 and $0.135, which earlier served as sturdy support for the price of the altcoin.

CryptoPulse pointed out that if this previous level of support is broken beneath the current weekly candle close, it is possible that this recent price bounce is nothing more than a retest before a larger sell-off.

In this scenario, a possible downside target has been pointed out to be around $0.0726, although a strong close back within the range of $0.124-$0.135 WOULD see this prediction invalidated.

At the time of writing, HBAR is trading at $0.1188, posting a 24-hour trading volume of $271.04 million and a market capitalization of $5.08 billion. The token has declined by 4.62% over the last 24 hours, signaling growing caution around its near-term direction.

Hedera Hashgraph Shows Signs of Rebound

Although a conservative outlook is being predicted, not all analysts are foreseeing a downward trend. Another market analyst, JD, predicted a much brighter outlook for the asset using momentum indicators. According to JD, if the RSI is seen above the MA and a bullish crossover is confirmed by the MACD, a strong breakout towards the upside is possible for the HBAR.

JD highlighted that if this were to prove true, the price of HBAR could approach new all-time highs before a correction. Although this is a projection and not necessarily true, it is interesting to see the different opinions that exist regarding the future value of HBAR.

For the moment, Hedera Hashgraph is at a critical level. The upcoming weekly closing will likely provide a clearer indication of whether it will move further down or attempt another rally. As usual, it is very important to monitor major levels.