HBAR Price Check: Reversal Potential and What the Charts Say

Is HBAR poised for a comeback? We dive into the latest technical analysis, key price levels, and potential catalysts for a Hedera Hashgraph reversal.

HBAR Price Check: Reversal Potential and What the Charts Say

HBAR's had a bit of a tumble lately, dropping from its year-to-date high. But don't count it out just yet! Analysts are seeing potential for a reversal. Let's break down the HBAR price, technicals, and reversal potential.

The Big Picture: Technical Analysis and Potential Upside

After a surge from $0.1265 to $0.3047, HBAR's price has pulled back. Technical analysis suggests this could be the second phase of an Elliot Wave pattern. If this pattern holds, we could see HBAR jumping to $0.40, about 85% above current levels. Chart patterns, like the bullish flag, also point to a potential breakout.

Key Support Levels and Accumulation Opportunities

Right now, HBAR's hovering around $0.21. Immediate support is forming between $0.206 and $0.208. A sustained defense of the $0.15 region could set the foundation for a strong recovery in the months ahead. WSB Trader Rocko suggests $0.15 as an attractive accumulation area for those focused on extended investment horizons.

Long-Term Bullish Structure

Analyst ChartNerd highlights a long-term ascending channel guiding HBAR's price action since 2020. Current levels near $0.21 are close to the lower boundary of this channel, offering strong structural support around $0.20. A breakout above the $0.22–$0.25 resistance zone could confirm renewed bullish momentum, potentially targeting $0.38, $0.95, and even $1.80.

Potential Catalysts: Stablecoins and ETFs

The rebound of stablecoin supply and the possibility of an HBAR ETF could act as catalysts. Growth in stablecoins like USDC is crucial for layer-1 networks. An HBAR ETF could boost the price due to rising demand from American investors.

Final Thoughts: Is HBAR Ready for a Rebound?

HBAR's facing some headwinds, but the technicals and potential catalysts suggest a possible reversal. Keep an eye on those key support levels and potential breakout points. It's a wild ride in the crypto world, but that's what makes it fun, right?