By Hedera Hashgraph’s native token HBAR has been showing signs of renewed strength despite recent market volatility.
The token has been consolidating near the $0.24 mark, a level that has become the focal point for traders and analysts watching for its next move.
With technical indicators flashing early bullish signals and analysts outlining a possible final wave in its market cycle, the stage appears set for a decisive breakout.
Consolidation at a key resistance
Hedera (HBAR) is currently trading near $0.229, down more than 4% in the past 24 hours.
Over the past week, it has fluctuated within a tight range of $0.238 to $0.242, suggesting market indecision at a crucial level.
The token has already gained more than 340% in the past year, making it one of the strongest performers in the altcoin space.
However, the immediate hurdle remains the resistance around $0.242, which analysts say must be cleared to confirm the next stage of the uptrend.
Market data also shows that Hedera retains solid liquidity, with a market capitalisation above $9.7 billion and daily trading volumes hovering around $367 million.
This level of activity underscores sustained investor interest, even as the price consolidates.
Analysts note that such sideways action often mirrors past accumulation phases that preceded sharp upward moves.
Bull flag hints at higher targets
Analyst ChartNerd has pointed to a visible bull flag formation on the daily timeframe.
The structure began with a strong rally in June, followed by weeks of sideways action and downward-sloping resistance lines.
While HBAR’s price is currently approaching the first Fibonacci support level, the flag’s breakout projection points to a move toward $0.40 initially, and possibly $0.55 in the medium term.
$HBAR approaching 0.382 support.
The bullish case is further supported by momentum indicators.
The MACD on the daily chart is showing signs of a Golden Cross, a technical signal that often marks the transition from bearish to bullish momentum.
In addition, selling pressure has steadily diminished, increasing the probability that momentum could soon favour the buyers.
Analysts eye wave structure
Prominent analysts like Hov argue that HBAR’s recent moves align with a broader Elliott Wave structure.
According to Hov, the token has already completed three impulsive waves since its last low and may now be forming a corrective fourth wave.
If this count holds, a final fifth wave could fuel a powerful rally, similar to the one seen in 2021 when the token hit its all-time high of $0.569.
$HBAR In the last update we were looking for HBAR to retest our blue entry level (threaded) Since then we got the retest and then it ran for 100+% As of now it’s only 3 waves off the low so we need to see it get another push higher above our key resistance level on 5 waves
Another analyst, STEPH IS CRYPTO, besides alluding to “the final $HBAR wave will create many new millionaires,” highlights a bullish triangle forming on the two-day chart, with tightening price action signalling a possible breakout toward $0.30 and beyond.
$HBAR Bullish Triangle! 👇
Such a move would reinforce the view that HBAR is in the middle of a cyclical expansion phase where liquidity shifts into altcoins.
Long-term outlook remains promising
According to the analysis by the various analysts, if the token holds support above $0.21713 and breaks through the $0.242 resistance, the stage would be set for a rally toward $0.40 and possibly $0.55.
Beyond the short-term resistance battles, HBAR’s long-term trajectory remains encouraging.
Analysts have set medium-term targets at $0.65 and even suggested the possibility of $1 if the larger wave cycle unfolds as expected.
The fact that Hedera’s supply is largely in circulation strengthens the case for more organic growth without heavy inflationary pressure.
On the development front, the network continues to upgrade steadily, with its recent testnet update to version 0.65 showing ongoing technical progress.
Such improvements are often overlooked in short-term price movements but help reinforce investor confidence in the project’s long-term sustainability.
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