- HBAR has surged over 7% today and gained 30% in the past month, benefiting from the broader crypto market momentum with Bitcoin above $103K and Ethereum jumping 27%.
- HBAR has formed an inverse head and shoulders pattern and broke above neckline resistance around $0.20, which coincides with its 100-day moving average.
- A confirmation above the 200-day moving average (~$0.2069) is still pending to validate the bullish reversal pattern.
- If momentum holds and the breakout is confirmed, HBAR could target the next resistance area around $0.2876, representing roughly 44% upside from current levels.
Date: Fri, May 09, 2025 | 08:45 AM GMT
The cryptocurrency market is gaining momentum again, with Bitcoin (BTC) smashing past $103K and Ethereum (ETH) jumping over 27% in the last 24 hours to trade above $2,450 — its highest level in months. This bullish wave is also pushing major altcoins higher, and Hedera (HBAR) appears to be one of the key beneficiaries.
HBAR has already surged over 7% today, adding to a solid 30% gain in the past month. And based on the current chart structure, this rally might just be getting started.
Inverse Head and Shoulders Breakout Detected
On the daily chart, HBAR has formed a textbook inverse head and shoulders pattern — a reliable signal often linked with trend reversals from bearish to bullish.
After bouncing strongly from the right shoulder support near $0.1693, HBAR managed to break above the neckline resistance around $0.20, which also coincides with its 100-day moving average. While the breakout is promising, a confirmation above the 200-day moving average (~$0.2069) is still pending.
If HBAR can hold above the neckline and break past the 200-day MA with volume, the bullish reversal will likely be validated. This could open the door for a powerful move toward the next key resistance area around $0.2876 — roughly 44% higher from current levels.
In short: HBAR’s technical setup looks strong, and if momentum holds, the token could be gearing up for a significant breakout rally.
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