HBAR price continued its rise after exceeding the horizontal resistance area, which is considered technically important. While the token is trading above the critical support area in the short term, this outlook increases the possibility of continued upward movement. HBAR increased by 5.05 percent in the last 24 hours to $0.07317.
The technical outlook gained strength
Commenting on July 23, analyst Alpha Crypto Signal points out that HBAR has turned the local horizontal resistance zone into support. In technical analysis, such transformations are closely watched as they indicate that an area where selling pressure was previously concentrated is now being protected by buyers.
Alpha Crypto Signal emphasizes that as long as HBAR remains above the regained support zone, the short-term trend continues to be upward, and maintaining this level may support new purchases.
This breakdown also gave a positive signal in terms of market structure for HBAR, which has been following an unstable course in recent weeks. However, it is important to maintain the broken level in order to permanently strengthen the technical outlook. If this condition is met, the possibility of the current recovery continuing may increase.
Indicators point to buyers
HBAR is currently above the middle Bollinger band near $0.06965. The upper band is at $0.07616 and the lower band is at $0.06314. The price recovering from the lower levels and approaching the upper band indicates that buyers are gaining weight in the market again.
Mini dictionary: Bollinger band is a technical indicator used to monitor price volatility and possible support and resistance areas. MACD, on the other hand, measures short- and medium-term momentum change; The MACD line crossing above the signal line is generally associated with a strengthening buying trend.
On the other hand, although it is considered that the rise may accelerate if the upper band is exceeded, short-term profit sales may also be seen in this region. Therefore, a move around $0.076 could be decisive for the next direction.
The MACD indicator also produced an upward crossover. The MACD line rose to minus 0.00132, while the signal line remained at minus 0.00229. The histogram’s increase to 0.00097 also indicated a strengthening of the buying momentum.
Monitored levels highlighted
Although both MACD lines are still below the zero level, the selling pressure appears to be weakening. HBAR will need to form higher lows and higher highs for this to be more strongly confirmed.
While technical indicators point to sellers losing control in the short term, subsequent trading will show whether HBAR can turn this breakout into a more stable uptrend.
The most closely watched issue in the market now is whether HBAR can stay above the new support level and how it reacts as it tests resistance near $0.076. If this level is exceeded decisively, the upward expectation may gain strength. If the support zone is lost again, the outlook may weaken and the price may retreat towards the middle Bollinger band.
