After a recent dip, HBAR price has once again caught traders' attention. Analyst CryptoPatel shared insights into significant gains from HBAR’s movement.
Current HBAR Situation
According to analyst CryptoPatel, HBAR has made a notable bounce from two entry points. The first range around $0.04–$0.05 has realized over 800% gains. The second entry, between $0.13 and $0.14, is now up about 125%.
CryptoPatel tweeted that HBAR "bounced perfectly" from the support area and confirmed both entries were hit. However, he cautioned that the risk-to-reward ratio is no longer ideal.
HBAR Chart Structure
The HBAR chart shared shows a 2-week view revealing that the price is currently trading around $0.28 after a strong rebound from the $0.13–$0.14 area. This zone has acted as reliable support during multiple cycles and was once again the base for the latest push.
The first major breakout originated from the $0.04–$0.05 range where the token surged to $0.36, locking in over 800% in gains and confirming the long-term uptrend. The second breakout, which is still in progress, was initiated from the $0.13 area and may have more room to run.
Predictions and Strategies for Traders
The key level to watch now is $0.35–$0.36, a tough resistance zone in past rallies. If HBAR price can break through, the path toward $0.70 or even $1 could open up. CryptoPatel also outlined a short-term target between $0.32 and $0.35 based on current momentum.
He advised those still holding from the second entry to protect profits with a stop-loss around $0.13. The trend still points upward, but chasing the move now carries more risk.
While HBAR shows significant potential for growth, traders should closely monitor resistance levels and make informed trading decisions to minimize risks.
