Hedera (HBAR) is drawing attention as traders assess a potential breakout from a long-term wedge pattern. Analysis indicates the asset may be heading towards $0.60 if trends continue.
HBAR Chart Structure
The two-day HBAR chart shows a descending wedge formation, with price trending lower since early 2025. This pattern comprises a declining resistance line and a flatter support line, creating a narrowing price range.
Descending wedges are generally viewed as reversal patterns. This setup is near a longstanding support zone, strengthening the possibility for a direction change.
Testing Key Support Zone
HBAR price is currently holding above a broad support band ranging from $0.130 to $0.160. This level has acted as a demand zone multiple times throughout early 2025.
Historical reactions from this area have led to short-term bounces. The RSI is also approaching a support region between 30 and 35, indicating weakening selling pressure.
Path to $0.60 Target
A visual projection included in the shared HBAR chart outlines a possible path toward $0.60, which includes a breakout above resistance, followed by a retest near $0.22 to $0.25, and then continuation higher.
While the $0.60 target may seem ambitious, this projection is grounded in standard breakout patterns of technical setups.
In conclusion, HBAR finds itself in a critical situation where overcoming resistance and sustaining momentum could lead to a successful breakout and price increase. Traders remain watchful for upcoming developments.
