Hedera (HBAR) is back on traders’ radars after some eye-catching technical signals emerged. Analysts are outlining both short- and long-term forecasts, especially following the HBAR price bounce off a key support zone.
Technical Signals for HBAR
Analyst Steph Is Crypto shared a chart suggesting that HBAR may be following an Elliott Wave structure. According to this setup, the token might be in Wave 2 of a five-wave cycle, which often signals a strong upward move ahead. If this plays out, Wave 3 could push the price toward $2.75, with a potential final wave aiming even higher around $4.67. The important support level backing this setup is around $0.12557, where HBAR’s price has previously found demand.
Demand Zone Analysis
Another analyst, AltCryptoTalk, focused on the daily timeframe, noting that HBAR's price has been trading within a downward parallel channel, forming lower highs and lower lows throughout the year. However, it recently bounced from a well-defined demand area between $0.11 and $0.15, which previously acted as a launchpad. The analysis suggests as long as the demand zone holds, there is potential for upward movement.
HBAR Resistance Levels Breakout
HBAR is currently testing the upper resistance of the channel, marked by descending red trendlines. A breakout above $0.17–$0.18 with increased volume could signal the end of the current downtrend. The next resistance levels would be around $0.22 and $0.28 if bullish momentum continues. The daily structure requires confirmation of strength through breakout and continuation.
The current situation with HBAR indicates that the token is within a strong demand zone with potential for growth. Confirmation of breakout through key resistance levels may signal a bullish trend in the future.
