HBAR Price Attracts Market Attention After a 17.07% Rally

HBAR has attracted significant market attention after a strong rally lifted the Hedera price by 17.07% last week. The current HBAR price is $0.19358, just below the $0.20 resistance mark.

RALLY CONTINUES AS HBAR PRICE TESTS $0.20 RESISTANCE — KEY LEVELS

The price of HBAR has risen significantly in recent weeks, and momentum indicators suggest that the token could continue to move higher in the short term. However, the token faces several resistance levels that could limit its gains.

On the other hand, if the bulls push through these resistance zones, the HBAR price could rise to new all-time highs.

Key Averages Point Higher

The Bollinger Band Trend (BBTrend) has soared to 6.83, a substantial increase from 1.5 just two days ago. This dramatic jump highlights a significant shift in volatility and the current trend’s strength. A BBTrend reading over 3 usually indicates a clear departure from prior price ranges, so HBAR’s latest figure suggests a solid directional trend is emerging.

While the BBTrend metric does not specify the trajectory by itself, its pairing with rising prices strongly confirms bullish momentum, delivering prominent HBAR news.

As traders anticipate further upward progress, the elevated Bollinger Band Trend reading becomes a crucial metric for measuring breakout strength or warning about potential reversals.

HBAR’s RSI Enters Overbought Levels

The Relative Strength Index (RSI) for Hedera has moved into overbought territory at 73.93. This value is a significant increase from 52.49 just two days ago, highlighting the intense buying activity powering HBAR’s current rally. RSI values above 70 typically suggest an asset may be due for a short-term price correction, although they can also be present during robust bull markets.

For now, HBAR’s high Relative Strength Index raises questions about the sustainability of the token’s price gains, but it does not necessarily guarantee a reversal. Historically, this digital currency has sometimes sustained elevated RSI levels for several days before experiencing a retracement.

The present trend showcases strong demand for the token, but a period of consolidation or decline could arise if momentum weakens or the $0.20 resistance is not breached. However, some traders see this phase as a healthy stage within a larger upward cycle.

Can HBAR Break Through $0.20?

The price of HBAR is currently testing a key resistance level at $0.20. This price point has been a barrier for the token in recent trading sessions and will likely determine the next phase of the token’s trend.

A decisive breakout above $0.20 could open the door for the HBAR price to rally toward targets at $0.227 and $0.258. Some forecasts even suggest $0.287 as an ambitious goal if the token gains enough momentum. The bullish configuration of exponential moving averages (EMAs) provides additional support for this optimistic outlook.

However, if resistance holds and sellers regain control, the downside risk will escalate.

The next support level for the HBAR price is at $0.179. Breaking below this level could trigger further declines toward the $0.15 zone, offering a pivotal test for the bears. A failure to maintain these support zones could lead to deeper corrections, highlighting the importance of current price action for both bulls and bears.

For now, the bears and bulls are locked in a battle at the $0.20 level, which will ultimately decide the fate of the HBAR price in the short term.