Hedera Hashgraph Price Rally Begins as HBAR Clears Key Resistance Level

• Hedera Hashgraph (HBAR) gains momentum, breaking key resistance and easing recent selling pressure.
• Weekly candle shows strong recovery with lower wick, signalling renewed buyer interest.
• HBAR surpasses the descending trendline, hinting at potential trend reversal and bullish momentum.

Hedera Hashgraph (HBAR) is gaining momentum as buyers return and ease the recent downward pressure. The weekly rebound and strong candle close help restore confidence in the asset’s direction. With HBAR now moving above its descending trendline, clear signs of a potential trend reversal are emerging.

At the time of writing, HBAR is trading at $0.1486, supported by a 24-hour trading volume of $734.18 million and a market cap of $6.33 billion. The token has climbed 9.15% over the last 24 hours, showing one of its most active sessions in weeks.

Hedera Hashgraph Weekly Candle Signals Recovery

According to the market analysis from CryptoPulse, the weekly candle closed with a prominent lower wick, which showed that there was a return of buying interest when the price was being driven down by the sellers.

The sharp recovery before the closure of the weekly candle also showed that buyers acted with conviction and ensured that the price did not fall.

CryptoPulse also clarified that the next step of this movement will be framed in the smaller time frames, where the levels of interest will provide the best entry points.

They stressed the significance of proper timing at this point, which is why they provide this information step by step in their live sessions on Discord, especially for new investors learning to handle the price actions of each day.

Also Read | Ethereum Eyes Reversal: Could Institutional Adoption Push the ETH to $4,250?

Hedera Breakout Sparks Bullish Hopes

However, adding to the growing optimism, analyst Aman posted that the HBAR has “broken free” as it has at last moved above the descending trendline that had been holding the asset’s price down for so many weeks. As this trendline has been breached, the previous trend of downward movement has ended.

The breakout, along with the strong buying momentum observed in the weekly chart, has restored hope in the HBAR community. However, if the momentum unfurls positively, Hedera could be poised to witness a larger move in the coming days.

Also Read | Bitcoin Faces Scaling Hurdles as Stablecoins Soar in Global Payment Use: Report