Hedera (HBAR) started the year on a rough note, falling to a low of $0.26 on New Year’s Day, igniting fears of a challenging 2025 ahead. However, the token has swiftly rebounded, surging 18.5%, positioning itself as one of the best-performing assets in the recent days. This rally has led to growing speculation about whether HBAR can maintain its upward momentum.
HBAR Technical Setup Turns Bullish
A closer look at HBAR’s technical setup shows a promising pattern. On the daily chart, the cryptocurrency has formed a bullish flag pattern, signaling the potential for further gains. A bull flag typically starts with a steep price surge, referred to as the flagpole, driven by intense buying pressure. This is followed by a pullback, creating a flag-like structure with parallel trendlines. The price break above the flag indicates the potential for another strong rally, and HBAR broke out of the flag once it surpassed $0.3, climbing to $0.32 at press time.
If HBAR can maintain its position above the upper trendline of the flag, it is likely to continue its upward trajectory.
HBAR Price Prediction: Higher Highs Likely
The daily chart reveals further bullish signals. The Exponential Moving Averages (EMA) show that the 20 EMA (blue) has stayed above the 50 EMA (yellow) since November 2024, forming a “golden cross.” This indicates that HBAR’s price action remains bullish, suggesting that a significant correction is unlikely in the short term. If the price drops below the EMAs, it could signal a setback, but the current technical indicators suggest that HBAR may continue its rally.
Fibonacci retracement levels also highlight key resistance levels. HBAR has surpassed the 0.786 level, signaling a break above major resistance. The next target is $0.37, with a bullish scenario potentially pushing HBAR toward $0.40. In an optimistic case, it could even reach the $0.5 mark.
However, a break below the lower trendline of the bullish flag could invalidate this bullish prediction, potentially sending HBAR back to $0.25 or even $0.18.
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In conclusion, HBAR’s recent recovery has positioned it as a strong contender in the cryptocurrency market. While resistance levels remain, the technical setup supports a continued upward trend if buying pressure persists.
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.
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