Hedera (HBAR) shows signs of strength after breaking out of a prolonged downtrend and forming a pattern signaling potential breakout.
Falling Wedge Pattern and Breakout
On the HBAR chart, a falling wedge pattern is observed, which is generally seen as a bullish model. The price is nearing $0.23, indicating a possible upward breakout. Analyst Javon Marks noted that the token is preparing for a 123% move higher, with the first target around $0.50.
Key Levels to Watch
The short-term focus is on a breakout above the resistance in the $0.27–$0.31 range. If HBAR can hold above $0.50, this would validate the expected move and open the way toward the $1 level.
Current Market Overview
Currently, HBAR is trading at $0.2187, up 2.52% in the last 24 hours. However, over the past week, the token has fallen by 4.99%, reflecting mixed market sentiments.
HBAR is at a crucial stage, and a confirmed breakout could lead to significant price growth. Analysts continue to monitor developments closely.
