HBAR Rally Sparks Cautious Optimism as Weekly Structure Holds Amid Bitcoin Surge

• HBAR’s weekly chart preserves bullish swing structure from 2024 rally.

• Daily timeframe indicates bearish internal structure, with resistance at $0.182.

• Liquidation heatmap points to potential northward pressure targeting $0.185 liquidity band, per CoinGlass data.

Hedera HBAR price analysis reveals a 9% rally amid Bitcoin’s surge, but low volume raises sustainability questions. Explore key targets and indicators for informed trading decisions.

What is driving the recent HBAR price rally?

Hedera HBAR experienced a 9% price increase over three days, fueled by positive market sentiment tied to Bitcoin’s climb toward $116,000. This momentum shift occurred despite trading volume remaining below recent averages, highlighting potential fragility in the uptrend. Analysts note that while short-term buying pressure appears weak, structural elements on higher timeframes support cautious optimism for HBAR’s trajectory.

How does the weekly chart influence HBAR’s outlook?

The weekly chart for HBAR displays a resilient bullish swing structure rooted in the 2024 rally, where the price held above the 78.6% Fibonacci retracement and did not retest the $0.0417 low. Even after a mid-year bearish turn, HBAR reclaimed bullish momentum in late June by surpassing the $0.228 high to reach $0.30. Recent volatility has not disrupted this framework, with session closes maintaining the uptrend.

Supporting indicators reinforce this view: the Relative Strength Index (RSI) leans slightly toward sellers, but On-Balance Volume (OBV) has avoided new yearly lows, indicating contained selling pressure. Data from TradingView underscores this balance, suggesting room for recovery if broader market conditions align favorably.

Experts, including those cited in financial reports from sources like TradingView, emphasize that such structural integrity often precedes sustained rallies in altcoins like HBAR, provided volume picks up.

Frequently Asked Questions

Why did HBAR experience a nearly 10% price move in recent days?

Hedera HBAR’s short-term surge was primarily triggered by a market-wide sentiment boost from Bitcoin’s rally to $116,000. This external catalyst lifted altcoins, but HBAR’s lower-than-average volume indicates the move may lack strong foundational support yet.

Can HBAR sustain its bullish momentum moving forward?

Yes, HBAR bulls could maintain momentum if buying pressure intensifies, particularly above key resistance levels like $0.182. Current price action hints at a potential shift, though traders should monitor for confirmation through higher volume and RSI crossing neutral territory to ensure an uptrend takes hold.

Key Takeaways

• Bullish Weekly Structure: HBAR’s higher timeframe holds firm from the 2024 rally, with no breach of critical Fibonacci levels, offering a foundation for optimism.
• Short-Term Resistance Ahead: Daily charts show bearish internals, targeting $0.182 and $0.233 as pivotal barriers where momentum could stall or accelerate.
• Liquidity-Driven Upside: Heatmap data from CoinGlass suggests northward targets at $0.185 and $0.192-$0.20, potentially fueling a breakout if shorts are liquidated.

Conclusion

Hedera HBAR price analysis points to a promising yet tentative recovery, bolstered by intact weekly bullish structure and emerging liquidity opportunities. As HBAR navigates resistance at $0.182 and beyond, increased volume will be crucial for sustaining gains amid Bitcoin’s influence. Investors should stay vigilant, tracking indicators like OBV and RSI for signals of a robust uptrend in the coming sessions.

Weekly chart keeps structure intact

Source: HBAR/USDT on TradingView

Hedera HBAR rallied 9% in three days, but its trading volume has been well below the recent average. This raises questions about whether the weekend rally represents an unsustainable spike or if HBAR bulls can reverse their fortunes through stronger accumulation.

The weekly timeframe analysis reveals a bullish swing structure based on the rally in 2024. The 78.6% Fibonacci retracement level remained unbroken, and the rally’s starting low at $0.0417 was not revisited.

Although the internal structure shifted bearish mid-year, it reverted to bullish in late June as HBAR surpassed the $0.228 high and advanced to $0.30. Despite recent weeks’ volatility, the weekly close upheld the bullish framework.

The RSI indicated mild seller momentum, yet the OBV avoided dipping to new yearly lows. This balance implies selling pressure is not dominant.

Combined with the structural recovery, these factors foster cautious optimism for HBAR’s near-term prospects.

However, short-term price action presents a contrasting narrative.

The immediate HBAR price targets to keep an eye on!

Source: HBAR/USDT on TradingView

The 1-day chart indicates a bearish structure in place. Swing traders should await a reversal before entering long positions.

Immediate resistance is at $0.182, with a more formidable level at the $0.233 swing high from early October.

A close above $0.182 on the daily chart would signal opportunities for longs targeting $0.233. Note that the $0.195-$0.298 range may impede further advances.

Technical indicators are starting to favor buyers subtly.

The OBV remained neutral over the past week, reflecting equilibrium between bulls and bears. A flip of $0.182 to support could tilt this balance.

Additionally, the RSI is nearing the 50 neutral line; surpassing it would signal budding bullish momentum.

Liquidation data hints at northward pressure

Source: CoinGlass

The one-month Liquidation Heatmap illustrates HBAR’s upward trajectory over the last five days, aiming at short liquidation clusters above current levels. The subsequent liquidity pool is at $0.185, followed by a narrower one between $0.192 and $0.20.

Thus, short-term targets for HBAR stand at $0.182 and $0.20. Breaching $0.233 would confirm Hedera’s readiness for a full uptrend.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.