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Key Takeaways:
- HBAR has surged 125% in under a month, approaching critical resistance at $0.300–$0.340.
- Bullish MACD and RSI signals suggest a breakout could lead to new all-time highs.
- HBAR is outperforming BTC and closely following the XRP fractal—another bullish sign for its future.
Hedera (HBAR) has stunned the crypto market by rallying 125% in just under a month, sparking speculation that the altcoin may be poised to retest or even surpass its all-time high. With key resistance levels approaching and strong bullish momentum visible on multiple timeframes, traders are keeping a close eye on Hedera’s next move.
HBAR Price Approaches Key Resistance Near $0.34
After rebounding from the $0.125 support level, HBAR’s price has gone parabolic, forming four consecutive bullish weekly candles. The surge has brought it close to a critical resistance zone between $0.300 and $0.340, which includes both long-term horizontal and diagonal trendlines.
Momentum indicators like the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) are flashing bullish signals. This same technical setup previously triggered a major rally in late 2023, suggesting the breakout potential remains strong if HBAR can close above $0.340.
Short-Term Pullback Likely Before Breakout
Despite the bullish macro setup, the six-hour chart suggests a local top may be forming. HBAR’s rally appears to have completed a standard A-B-C or five-wave pattern, peaking near the 1.61 Fibonacci extension level. A visible upper wick and bearish divergences on both RSI and MACD support the possibility of a short-term correction.
Should this occur, HBAR may retrace toward the $0.240 support level before resuming its uptrend. Such a dip could serve as a healthy reset ahead of another leg higher.
HBAR Outperforms Bitcoin as Altcoin Season Heats Up
HBAR isn’t just gaining against USDT—it’s also outperforming Bitcoin. The HBAR/BTC pair has broken out of a long-term diagonal resistance and reclaimed the 220 satoshi level. With RSI and MACD both confirming bullish momentum, the next target lies at 330 satoshis.
This strength further supports the idea that Hedera could be among the leaders in this altcoin rally cycle.
Also Read: Hedera (HBAR) Price Jumps 75% in July as Bullish Momentum and Trading Volume Surge
One compelling signal comes from a price fractal between HBAR, XRP, and XLM. Historically, the three assets have shown mirrored patterns. XRP has already hit new highs, and HBAR now seems to be following a similar path. If this fractal continues to play out, HBAR could be on track to break its cycle high and potentially set a new record.
Hedera’s price is displaying strong bullish signals on multiple timeframes, backed by positive momentum indicators and bullish comparisons to both Bitcoin and XRP. While a short-term dip to $0.240 is possible, a confirmed breakout above $0.340 could open the floodgates for a major rally toward new all-time highs.
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.
