HBAR Eyes Breakout Amid Strong Support and Demand
Key Takeaways
- HBAR is showing a bullish market structure with support at USD 0.206.
- Key price zones are at USD 0.20 and USD 0.23 – liquidity is concentrated there.
- A breakout toward USD 0.253 is possible if the overall market remains stable.
- A short-term sideways trend between USD 0.195 and USD 0.23 is likely.
HBAR: Technical Setup Favouring Buyers
Hedera (HBAR) has shown a steady upward movement in recent weeks. The price managed to break above the USD 0.194 mark, confirming a bullish market structure. Notably, buyers have successfully defended the support level at USD 0.206 over the past three days – despite repeated selling pressure.
A look at the On-Balance Volume (OBV) indicator, which measures the ratio of buying and selling volume, shows a clear upward trend. Since mid-April, the OBV has been steadily rising and has even surpassed the March levels. This indicates continued buying interest.
Fibonacci Levels as a Guide
The current price development can be well analyzed using Fibonacci retracement levels. These technical markers are based on mathematical pullback zones, which often act as support or resistance. HBAR has reclaimed the 50% retracement level at around USD 0.206 – a positive signal.
The next target lies at USD 0.253, the 78.6% retracement of the March downtrend (from USD 0.288 to USD 0.125). If the overall market, especially Bitcoin and other altcoins, continues to show strength, a move into this zone is realistic.
Liquidity Zones: Focus on USD 0.20 and USD 0.23
According to the 1-month liquidation heatmap from Coinglass, two key liquidity zones are located at USD 0.20 and USD 0.23. These price areas attract the market because many open positions are concentrated there. The market tends to test such areas to “collect” liquidity.
The USD 0.20 level lies just above the late March high. The USD 0.23 zone is slightly above the 61.8% Fibonacci level. Both levels can be seen as magnetic zones – areas the price is likely to gravitate toward in the short term.
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Short-Term Sideways Trend Possible
The 1-week heatmap confirms the importance of the USD 0.20 zone. A short-term pullback into the range between USD 0.195 and USD 0.20 is likely. A bullish reversal could occur there, pushing the price back toward USD 0.23.
Whether a breakout above this level will succeed remains uncertain. It’s quite possible that HBAR will move sideways between USD 0.195 and USD 0.23 in the coming days. Traders should keep a close eye on this range and adjust their positions accordingly.
Our Assessment
HBAR currently shows a solid technical structure with clear support and resistance zones. Demand remains stable, and the OBV continues to signal buying pressure. As long as the overall crypto market does not show signs of weakness, HBAR could move toward USD 0.253 in the medium term.
In the short term, however, a consolidation between USD 0.195 and USD 0.23 is expected. Active traders should take advantage of this range – but also be prepared for potential false signals. Risk management remains key.
Sources
- TradingView
- Coinglass
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