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- HBAR maintains a long-term bullish structure despite short-term resistance.
- A daily close above $0.182 could spark the next leg up to $0.233.
- Low volume remains a concern, but liquidity data supports near-term upside.
After a quiet few weeks, Hedera (HBAR) is showing signs of life again. The token rallied over 9% in three days, but traders are still watching closely to see if this move can hold. Despite low trading volume, recent price action suggests that HBAR may be gearing up for a stronger recovery if key resistance levels are cleared.
Weekly Structure Remains Bullish
On the weekly chart, HBAR continues to maintain a bullish long-term structure. The token’s rally in 2024 remains intact, as prices have yet to break below the critical 78.6% Fibonacci retracement level or retest the $0.0417 low that began the move.
Even after mid-year volatility, the late June rebound above $0.228 and peak at $0.30 preserved the broader uptrend. Indicators like the On-Balance Volume (OBV) show that selling pressure hasn’t been extreme, leaving room for a potential recovery once market sentiment improves.
Short-Term Chart Shows Key Resistance Ahead
However, the daily timeframe tells a more cautious story. HBAR is still trading under bearish short-term conditions, with resistance at $0.182 and a stronger barrier near $0.233.
A daily close above $0.182 could signal a short-term bullish shift, opening the path toward $0.2–$0.233. The RSI nearing 50 hints that momentum could soon flip positive, while neutral OBV readings suggest that bulls and bears are currently evenly matched.
Also Read: Hedera (HBAR) Breakout Signals Potential New All-Time High Above $0.40
Liquidation Clusters Signal Northward Pressure
Data from CoinGlass shows clusters of short liquidations between $0.185 and $0.2, suggesting upward liquidity targets. This aligns with the idea that a move above $0.182 could trigger stop-loss hunts and fuel additional buying pressure.
While the latest rally may look fragile due to low trading volume, the combination of technical resilience and liquidity pressure gives bulls a reason for cautious optimism. If HBAR can close above $0.182, traders may see a shift toward a new uptrend, potentially setting sights on the $0.233 zone in the coming weeks.
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.
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.
