What to know:
- HBAR consolidates in a falling wedge, signaling potential bullish reversal as bearish momentum weakens.
- Derivatives data remain neutral, as open interest drops slightly and funding rates show balanced positioning.
- Technical indicators suggest caution, with price below the 20-SMA and MACD still bearish, though selling pressure is easing.
Hedera (HBAR) has expanded its consolidation phase with a reversal in sight, as the token is trying to break the upper boundary of the falling wedge pattern. According to CoinMarketCap, as of Friday, HBAR is currently trading at $0.08793, with a 24-hour trading volume of $53.63 million and a market capitalization of $3.81 billion. Its price has shown stability over the last 24 hours but remains down by 3.55% over the last week.
Source: CoinMarketCap
Also Read: Hedera (HBAR) Holds Key Support as Bulls Eyes Potential Move to $0.135
HBAR Derivative Data Point Neutral Outlook
According to Coinglass, the open interest declined 0.70% to $108.79M, indicating a slight reduction in derivatives positioning, while volume fell 19.66% to $107.28M, reflecting weaker trading activity and lower market participation across recent sessions.
Source: Coinglass
However, the OI weighted rate stands at 0.0078%, suggesting minimal directional bias among market participants and indicating largely balanced positioning within the market, with no strong bullish or bearish dominance.
Source: Coinglass
HBAR Falling Wedge Signals Potential Breakout Rally
Furthermore, the crypto analyst Jonathan Carter pointed out that HBAR is showing a falling wedge pattern on the 2-day chart, a structure often linked with weakening bearish momentum and potential reversal setups.
Price action continues to compress between declining trendlines while downside momentum fades. Volume behavior suggests early accumulation, hinting that sellers may be losing control as market structure tightens gradually.
Source: Jonathan Carter’s X Post
If the price manages to break above the level of resistance, and the breakout continues to persist, then a slow rise is expected, with target prices at $0.095, $0.105, $0.130, $0.150, $0.175, and $0.220.
At each target, there will be resistance, which may halt or consolidate the rally. However, it must be emphasized that the breakout needs to be accompanied by high volume.
Technical Indicators Reveal Easing Pressure
According to TradingView, HBAR is moving along an evident bearish trajectory from its previous high near $0.0940. Its price has already crossed the 20-period SMA barrier near $0.08853 and is currently trading at $0.08812.
As a result of the tightening Bollinger Bands indicator, the asset seems to be testing its lower support near $0.08694.
Source: TradingView
The MACD is a further affirmation of this bearish momentum since the MACD line and the signal line are both below zero.
The histogram is moving into a touch of green, showing some reduction in sell-off pressure, although there is not yet any reversal in place. Until there is an uptrend crossover, the trend will remain bearish.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: Hedera Hashgraph (HBAR) Holds Near Support as Triangle Formation Signals Continued Uncertainty
Be the first to comment