HBAR traded around $0.0835, gaining approximately 7.7% in the last 24 hours. Short-term TradingView data showed the price as high as $0.0842. It was reported that the rise came after a squeeze between $0.077 and $0.079.
Purchases gained strength after the technical break
The price movement was shaped by the gradual loss of influence of sellers within the narrowing structure. Buyers then reclaimed the immediate resistance zone with the price moving above the upper trend line. Thus, upward momentum came to the fore in the short-term outlook.
In the chart shared by Crypto With Gopal, it was seen that HBAR formed a round bottom after a long decline after the peaks in early April. While two distinct bottoms stand out on the chart, the second bottom developed within the falling wedge formation.
After maintaining support near $0.077, HBAR broke above the descending resistance line, and following this move, buying interest increased, pushing the price above the $0.082 level.
Two possible upside targets stood out in the analysis. The first zone is at $0.086, with the higher target around $0.090. It was stated that these levels coincide with the old trading areas where sales were concentrated in previous recovery attempts.
| Level | Meaning |
|---|---|
| $0.081 | Possible short-term retest zone |
| $0.079 | Threshold at which the structure may weaken |
| $0.086 | first up target |
| $0.090 | Second up target |
Intraday recovery occurred in a wide band
According to BraveNewCoin data, HBAR was traded at $0.08348, while the intraday lowest value was $0.07691. This chart showed that the price has rebounded strongly from the lower zone of the session. The market value was recorded as approximately $3.61 billion and the transaction volume was $96 million.
Data revealed that the price first recovered from below $0.077, then surpassed the $0.079 level and stabilized around $0.080. The second buying wave in the later part of the session carried HBAR above $0.082 and the closing occurred close to the upper band.
The 24-hour outlook pointed to a gradual rise throughout the day rather than a sharp one-time jump.
Indicators gave positive signals in the short term
Technical indicators also supported the short-term rise. The MACD line remained above the signal line at 0.00068 at 0.00078. The fact that the histogram was in the positive zone at 0.00010 indicated that the upward momentum continued.
The Chaikin Money Flow indicator increased to 0.19.
Mini dictionary: Chaikin Money Flow is an indicator that measures the inflow and outflow of money into the market by evaluating price and volume together. Values above zero generally indicate stronger buying pressure.
According to TradingView data, HBAR is now approaching the first resistance zone. In order for the price to continue its rise, it must first exceed the $0.085 level and then move towards the $0.088 and $0.090 regions. Below, the first support is at $0.082, then $0.080. If the price returns below $0.079, the previous wedge structure may come into play again.
