- HBAR tested key Fibonacci retracement levels, signaling potential continuation or reversal
- Bollinger Bands tightening, hinting at an upcoming breakout
- $0.26 remains a key resistance level for bulls to push beyond
Hedera’s price movement has caught traders’ attention as it bounced off a key Fibonacci retracement level, signaling potential continuation if bulls can maintain momentum. The price surge came after HBAR found strong support near $0.23, a level that has acted as a base in previous corrections.
Looking at the 0.618 Fibonacci retracement, HBAR’s rebound suggests a critical point in price action. This zone often serves as a turning point—either reinforcing a strong move upward or acting as a temporary pause before further decline. If buyers continue to defend this level, HBAR could target the $0.26-$0.27 range, which has historically been a strong resistance zone.
Hedera’s Price Action Shows Strength—But Is It Sustainable?
Based on the CoinGecko chart, if HBAR can break above $0.26 with strong momentum, it would confirm a bullish continuation, potentially opening the door to $0.28 or even $0.30. However, if it struggles at this level and falls back below $0.24, it could indicate that the rally is running out of steam, leading to a possible retest of lower support levels.
The next few trading sessions will be pivotal in determining whether Hedera’s uptrend is just getting started or if it’s due for another consolidation period.
Can HBAR Break Through Resistance?
The biggest challenge for Hedera’s price right now is overcoming resistance at $0.26, a level that has rejected previous attempts to move higher. If HBAR can push through this barrier, it would signal increasing buying interest and shift sentiment further bullish.
On the other hand, if the price gets rejected at resistance, traders may start looking at the $0.23-$0.24 range as the next crucial support. A breakdown from here could signal a larger retracement, which might cause investors to become more cautious in the short term.
Hedera was founded in 2018 and operates on the Hashgraph consensus mechanism, a unique alternative to blockchain that aims for greater efficiency and scalability. Its enterprise partnerships and growing developer ecosystem make it one of the more interesting projects in the crypto space.
Right now, the key focus is whether HBAR can break out of this consolidation phase and push toward higher resistance levels. If it does, the momentum could accelerate, but if not, another phase of sideways movement could be ahead.
