Key Takeaways
- HBAR is rebounding within a descending channel; closing above $0.20 may trigger a 90% surge toward $0.400.
- Technical patterns, including a cup and handle, confirm bullish continuation and accumulation.
- Taker-buy dominance and ETF approvals reinforce institutional and retail demand.
Hedera’s HBAR is attracting renewed attention as analysts forecast a potential 90% rally, driven by taker-buy dominance and bullish technical setups. Recent price action and institutional developments suggest the token may be on the cusp of a significant breakout.
Hedera Price Breakout Signals Emerging
HBAR has rebounded sharply, climbing 11.13% in the last 24 hours, with trading volume surging 140.74% to $480.8 million. Currently priced at $0.1920, HBAR is testing the lower boundary of a descending channel that has shaped its structure since mid-August.
Also Read: What Is Hedera Hashgraph (HBAR)? A Deep Dive into the Future of Decentralized Ledgers
Crypto analyst ZAYK Charts highlights that this pattern mirrors a June setup, where a breakout above the upper trendline triggered a substantial rally. Closing above the $0.20 mark could validate a projected surge toward $0.400, marking a potential 90% upside. This move is reinforced by repeated higher lows and strong buying pressure, signaling a high-probability reversal.
Cup and Handle Pattern Supports Long-Term Upside
Technical charts reveal a classic cup and handle formation, confirming a bullish continuation setup. The token has rebounded from the $0.159 demand zone, forming a rounded base indicative of sustained accumulation.
A breakout above the $0.201 neckline could open the path to $0.233, $0.260, and ultimately $0.400, aligning with the analyst’s forecast. Indicators such as the DMI and ADX also suggest growing trend strength, further supporting a constructive HBAR outlook.
Taker Buys and ETF Approval Strengthen Demand
Market data shows taker-buy dominance across major exchanges, signaling aggressive buying activity. Open Interest has jumped 11.12% to $146.30 million, reflecting increased long-side positions and strong investor conviction.
Institutional developments, including the launch of the Canary HBAR ETF with Bitwise under Nasdaq, add further legitimacy and liquidity to the market. Analyst Eric Balchunas noted these listings attract mainstream fund attention, boosting investor confidence in HBAR’s growth potential.
Conclusion
HBAR price is structurally poised for a breakout, backed by strong technical formations and rising market participation. Investors should monitor the $0.20 barrier for confirmation, as crossing it could validate a rally toward $0.400, marking a major milestone in Hedera’s bullish trajectory.
