Date: Tue, May 13, 2025 | 05:10 AM GMT
The cryptocurrency market has shown strong upside strength, with Ethereum (ETH) leading the charge. ETH has climbed more than 52% over the past month and is now trading near the $2,450 mark — its highest level in months. This resurgence is also lifting sentiment across major altcoins, including Hedera (HBAR).
HBAR is currently showing monthly gains of over 19%, trimming its year-to-date loss to around 23%. And now, a key breakout is emerging on the chart, which is currently being retested — hinting that another leg up might be just around the corner.
Retesting Inverse Head and Shoulders Breakout
On the daily chart, HBAR has formed a textbook inverse head and shoulders pattern — a reliable bullish reversal formation that signals a potential trend change from bearish to bullish.
After bouncing off the right shoulder near $0.1693, HBAR broke above the neckline resistance at $0.20, which also aligns with the 100-day moving average. This move pushed HBAR to a local high of $0.2286.
However, HBAR faced selling pressure near that level and retraced more than 12%, dipping back to the breakout zone around $0.2007. It’s now consolidating just above that level, also testing the 200-day moving average — a key resistance area.
What’s Next for HBAR?
This $0.19–$0.20 range is now the critical battleground. If HBAR holds this zone and buyers return with strong volume, it could validate the bullish retest and spark a new rally. The technical target from the inverse head and shoulders points to $0.2876, which represents a potential 39% upside from current levels.
But there’s also a risk. If HBAR fails to maintain support above the neckline, the breakout could be invalidated, opening the door for further declines before any meaningful rebound occurs.
Ultimately, whether HBAR can rally from here may depend on broader market sentiment — particularly whether Ethereum can sustain its recent gains and continue leading the market higher.
Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before making any investment decisions in the cryptocurrency market.
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