Key Insights:
- HBAR is forming a falling wedge, signaling a potential breakout.
- A breakout above the wedge could target $0.38, representing a 124% upside.
- Growing institutional interest boosts confidence in $HBAR’s future performance.
Hedera Hashgraph (HBAR) price has been consolidating within a falling wedge pattern since December 2024. According to market analyst TheMoonCarl, this technical formation may signal an upcoming breakout to the upside.
If HBAR crypto breaks above the wedge’s upper trendline, it could surge to a target of $0.38. This represented a 124% potential increase from its current value of $0.17.
Falling Wedge Formation Signals Bullish Reversal For HBAR Price
The same bullish chart pattern is also evident in the daily trading chart of HBAR. HBAR price converged on the chart in lower lows and lower highs. A falling wedge pattern indicates a bullish turnaround following a falling trend.
Usually, a breakout from this pattern to the upside is seen as positive as a bullish signal. HBAR crypto reaching the top of the wedge means a breakout above the upper trendline could be a strong uptrend.
At the moment, the price of HBAR was observed to be around $0.16999. The token has begun climbing from the lower part of the wedge. This consistent rise within an ascending trend channel suggests the market is ready to break.
If the breakout happens, the target is projected at $0.38. This would mean a potential gain of 124% from the current HBAR price.
Key Indicators Supporting the Breakout
RSI at 37.89 indicated that momentum is weakening and the market is nearing oversold territory. However, with the bullish market pattern on the HBAR crypto chart, there may be chances for upward movement. A rise above 50 would enhance the bullish outlook.
The positive volume flow in the Cumulative Volume Delta (CVD) of 17.5M means HBAR attracts buyer interest. This growing volume is a positive sign, suggesting that more traders are positioning themselves for a potential breakout.
However, volume fluctuations remain, meaning traders should seek confirmation before entering new positions. Moving Average Convergence Divergence (MACD) also showed bearish momentum as the indicator was below the signal line.
Hence, HBAR price would find short-term resistance. However, the histogram moves slightly more positively, which means upward momentum is building.
HBAR Institutional Moves Add Confidence
In addition to technical indicators, institutional players are taking note of HBAR crypto. Earlier this week, Hedera Hashgraph joined the ERC 3643 Association. This places it among distinguished institutions like DTCC, Citi, and ABN AMRO.
Joining this association is considered a significant move for Hedera. It positions $HBAR at the forefront of the expanding field of tokenizing real-world assets.
The T-REX standard is becoming a gold standard for tokenizing real-world assets (RWA). Institutional interest in Hedera is increasing significantly, fueling optimism about its future. This trend could positively impact HBAR price, reinforcing bullish sentiments.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
The post HBAR Price Targets $0.38 Amid Bullish Breakout Momentum appeared first on The Market Periodical.
