HBAR Price Poised for a Breakout? Double Bottom Signals Bullish Reversal

Hedera (HBAR) has been in a cooling-off phase after a strong five-wave impulsive rally. But here’s the exciting part: technical indicators suggest that the correction may be ending, and a bullish reversal could be on the horizon. If the current setup holds, HBAR might be gearing up for a big move. Let’s break it down.

HBAR Price Analysis: Is a Breakout Imminent?

The 4-hour chart tells a compelling story. HBAR completed a classic Elliott Wave five-wave impulse, followed by a WXY corrective pattern that pushed the price down from a local high of $0.39 to a recent low of around $0.18. But this correction might be over.

Here’s why:

• The Y wave found strong support at the 0.618 Fibonacci retracement level—a key zone where price often rebounds. This level, around $0.18, also held firm on February 25, triggering a major price recovery.
• Double-bottom formation? The price retested this level recently and showed buying interest, a potential bullish signal.
• RSI (Relative Strength Index) near oversold territory – This suggests that selling pressure is fading, and buyers may be ready to step in.
• A breakout from the downward-sloping channel hints at a possible trend reversal.

However, one big challenge remains: $0.217 (0.5 Fibonacci retracement). This level has been a stubborn resistance. If HBAR can break above it, the next upside target is $0.258 (0.382 Fib). Beyond that, bulls will have their sights set on $0.278, a key supply zone from previous corrections.

But what if it fails? If HBAR can’t hold these zones, a revisit to the $0.176 support is possible.

HBAR Price Prediction: Can the Uptrend Continue?

The 1-hour chart gives even more clues. An early-stage five-wave impulse structure is forming, signaling a potential bullish wave sequence. Here’s what to watch:

• HBAR is completing its second corrective wave (wave ii) within this structure, with price action respecting short-term Fibonacci levels.
• A sustained push above $0.217 (0.5 Fib) would confirm the development of wave (iii), targeting the $0.23-$0.24 range.
• If wave (iii) unfolds as expected, we could see a brief pullback (wave iv) around $0.22, before an extension in wave (v) toward $0.258 (0.382 Fib) from the larger timeframe.
• According to the Elliott Wave principle, wave (iii) typically extends beyond wave (i) by 1.618x its length, which aligns with the $0.24+ target zone.

Key Levels to Watch

✅ Immediate Resistance: $0.217 (0.5 Fibonacci retracement) – The first major hurdle. A breakout above this level would be bullish. ✅ Major Resistance: $0.258 (0.382 Fibonacci retracement) – If HBAR gains momentum, this is the next stop. ✅ Key Support: $0.176 (0.618 Fibonacci retracement) – Losing this level could extend the downside.

✅ Critical Support: $0.117 (0.786 Fibonacci retracement) – If the bearish trend resumes, this is the danger zone. ✅ Short-Term Target for Wave (v): $0.24+ if the wave structure remains intact. ✅ Invalidation Zone: Below $0.176 – A drop below this level could signal further downside.

Final Thoughts

HBAR is at a crossroads. If it can clear $0.217, we could see a strong bullish push toward $0.24-$0.258. The current setup suggests a potential reversal, but volume confirmation will be key. If buyers step up, HBAR could be in for a big rally. However, a failure to hold key supports may lead to further downside.

Are we about to witness the next leg up for HBAR? Keep a close watch on these key levels – the market is heating up! 🔥