- Hedera (HBAR) is reported to have shifted from a bearish trend that has been in place since mid-2024 and is gearing towards a new all-time high.
- HBAR is reported to have fallen from the overbought territory on the Relative Strength Index (RSI) chart to the neutral zone.
Hedera (HBAR) has traded in a tight range over the past month, moving between the $0.16 and the $0.22 levels. According to our market data, the asset has recorded a 3% decline in the last 24 hours, while surging by 0.38% in the last seven days. Also, HBAR is threatening to break the $0.18 support level from the $0.20 peak recorded on its daily time frame.
Aligning with the current trend, traders seem to have taken a cautious approach towards the asset as its trading volume declined by 39%, with $163 million changing hands.
Looking at some of its technical indicators like the Relative Strength Index (RSI), we discovered that HBAR has fallen from the overbought territory to the neutral zone of 49. According to our analysts, this implies that there is a fading momentum triggered by a loss of confidence in the overall crypto market.
On the BBTrend, HBAR is found to be “sitting” at the 0.97 area. Basically, this represents a recovery from the bearish area of -8.99 recorded on May 19. The current reading also suggests that sentiment is shifting to the positive side, and could be in favor of HBAR. Currently, the asset is reported to be hovering within a range-bound unless a stronger momentum is recorded in the market.
The $0.2 level is now reported to be the next psychological level. Breaking above this could see the asset targeting the $0.24 level as indicated in our previous analysis. Similarly, CNF has highlighted in a previous report that HBAR could breach the $0.21 and the $0.22 level once it successfully holds above the $0.18 level.
Failure to validate this analysis could see the asset decline to as low as $0.191. Meanwhile, this would not be all. When bears continue to dominate the market, the price could further decline to $0.184.
Analyst Speaks on Hedera (HBAR)
Subjecting the asset to more critical analysis, a crypto trader identified as VipRoseTr has highlighted that there is a formation of a descending triangle that has been in place from mid-2024 to May 2025. According to him, this is marked by a flat support at $0.10 and a decreasing resistance line which starts from $0.30.
Meanwhile, the current market behaviour indicates a trend change and a rebound from a crucial support level. Per his analysis, HBAR could break three key resistance levels at $0.27, $0.34, and $0.41, and possibly proceed to create a new all-time high.
Other analysts have also highlighted that HBAR could be pushed up the price curve by sentiments around recent partnership deals and the potential Exchange Traded Fund (ETF) approval.
As detailed in our earlier discussion, Alchemy Pay has integrated HBAR and USDC for seamless fiat on-ramp. Also, the Hedera Foundation was reported to have placed a bid to acquire the social media platform TikTok, as discussed earlier.
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