Hedera (HBAR) Coin Breakout: Latest Analysis and Predictions

Bittime - Hedera (HBAR) is currently at a critical point in its price movement. With chart patterns indicating a potential breakout, many analysts predict a significant increase in price. Elliott wave structures and Fibonacci levels are the main benchmarks for analyzing HBAR's future price movements.

Hedera (HBAR) has recently shown signs of breaking out of its short-term downward pattern. The daily chart indicates that the price is completing the fourth corrective wave in a larger Elliott Wave structure. Currently, HBAR has reached the key Fibonacci support zone, signaling a possible reversal.

Hedera Breakout and Current Price Trend

HBAR prices retrace back to the 0.5 Fibonacci level around $0.218, with additional support at the 0.618 level at $0.177. This zone has served as strong support in the history of HBAR price movements, providing an indication that bullish momentum could return soon. The Relative Strength Index (RSI) also shows oversold conditions, which are usually followed by a price rebound.

If the uptrend continues, the first target to break is $0.259, which is the 0.382 Fibonacci level. If the price manages to break through this level, the next target is in the range of $0.31 to $0.35, which is the strong resistance area from the previous movement.

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HBAR Price Prediction and Key Levels to Watch

The hourly chart shows that HBAR has just broken out of a descending wedge pattern, which is often an early indication of a new bullish move. This breakout is most likely the start of wave (i) in a larger five-wave structure.

Source Nikola Lazic/TradingView

Currently, the price is retesting support around $0.218, which is also the 0.5 Fibonacci retracement level. If the price holds above this level, wave (iii) of the next bullish move could take HBAR prices to $0.31 and even higher to $0.35.

Key Levels to Monitor:

Source Nikola Lazic/TradingView

• Nearest resistance: $0.259 (Fibonacci retracement 0.382).
• Key resistance: $0.31 (Fibonacci retracement 0.236).
• Major resistance: $0.35 (previous swing high).
• Direct support: $0.218 (Fibonacci retracement 0.5).
• Critical support: $0.177 (Fibonacci retracement 0.618).
• Short-term target: Above $0.31 if the bullish momentum persists.
• Invalidation zone: If the price drops below $0.177, the bullish structure may end.

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Conclusion

Hedera (HBAR) is in a very interesting position with significant breakout opportunities. If the price is able to hold above the main support level and continues to move up, the potential for a rally to the $0.31 and $0.35 levels is even greater. However, if the price falls below $0.218, the bullish scenario could be delayed or even fail.

Investors and traders interested in HBAR are advised to monitor key resistance and support levels to determine the best course of action in their investment strategy. With this potential breakout, HBAR could become an attractive digital asset in the coming weeks.

FAQ

What is Hedera Breakout?

Hedera Breakout refers to the movement of HBAR prices breaking through a downward trend pattern, signaling the potential for significant increases.

What is the predicted price of HBAR in the near future?

If the bullish momentum continues, the price of HBAR has the potential to reach $0.31 to $0.35 based on Fibonacci and Elliott Wave technical analysis.

What are the main factors affecting the price of HBAR?

The main factors include technical analysis, market sentiment, adoption of the Hedera ecosystem, and the movement of digital assets as a whole.

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Reference

ccn.com, Hedera (HBAR) Eyes Breakout as Price Tests Key Resistance Level, accessed February 17, 2025.

Author: AWW