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- HBAR has reclaimed $0.235 support and broken diagonal resistance.
- Momentum indicators RSI and MACD are bullish, pointing to a potential rally.
- Long-term resistance at $0.40 is the next hurdle toward a new all-time high.
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Hedera (HBAR) has rebounded strongly after its July high, suggesting that the recent correction may be over. After reclaiming key support levels and breaking short-term resistance, HBAR is positioning itself for a potential rally toward a new all-time high by the end of 2025.
Hedera Breaks Out of Correction
After peaking at $0.305 on July 27, HBAR fell to a low of $0.210 on September 4, breaching the $0.235 support level. However, the decline was short-lived. By September 15, Hedera had reclaimed the $0.235 area and confirmed it as support, signaling the end of its corrective phase.
In addition to horizontal support, HBAR also broke out from a diagonal resistance trend line. This dual breakout provides a strong technical foundation for a potential upward movement.
Momentum Indicators Turn Bullish
Hedera’s momentum indicators support the bullish outlook. The Relative Strength Index (RSI) is comfortably above 50, while the Moving Average Convergence/Divergence (MACD) is positive. Both indicators also broke out from their diagonal resistances, suggesting that bullish momentum is gaining strength. The next significant resistance level to watch is $0.280.
Wave Count and Price Targets
Technical analysis using wave counts shows that Hedera has completed a W-X-Y correction and appears to have bottomed. If the wave count plays out as expected, HBAR could reach $0.365, aligning with the 1.61 external Fibonacci retracement level of its recent decline.
Long-term resistance has held since HBAR’s 2021 all-time high. A successful breakout from the $0.280 short-term and $0.40 long-term resistance levels could clear the path for Hedera to reach a new all-time high.
Hedera’s price action, combined with bullish momentum indicators and wave count alignment, suggests that the correction may be over. If HBAR continues to break resistance levels, it could be on track for a new all-time high, potentially above $0.40, before the end of the year.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Hedera (HBAR) Price Nears Breakout as Bulls Target $0.363 After Reclaiming $0.235
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
