HBAR Price Gears Up for a Breakout—Can it Hit $2.23?

Hedera (HBAR) is showing strong signs of a breakout as bullish technical indicators align with optimistic market forecasts. The cryptocurrency has gained 10% in recent days, currently trading at $0.3097 as of Jan. 27, 2025.

Hedera (CRYPTO: HBAR) price hints at a major breakout, with some analysts predicting a surge to $2.23. Here's a technical analysis to gauge the token's momentum.

HBAR Price Chart Signals A 50% Breakout

Hedera's dailyの時間枠チャート reveals a descending wedge formation, a bullish reversal pattern that could trigger a sharp breakout if the price breaks through a crucial resistance zone.

The key resistance levels for HBAR are $0.32 and $0.34. Bulls need to reclaim this zone to confirm an upward move. If HBAR breaks past this resistance with strong volume, its next target could be $0.40, with the 1.618 Fibonacci extension at $0.49 acting as a potential milestone. This aligns with historical breakout zones, reinforcing bullish expectations.

However, a failure to hold above $0.287 could shift momentum downward, potentially triggering a 35% correction. This makes the next few trading sessions critical for price direction.

On-chain data further supports the bullish case, with CoinGlass reporting over $10 Million in HBAR outflows from exchanges in the past 48 hours. Long-term holders are accumulating, a sign that smart money could be positioning ahead of a breakout.

With technicals pointing toward a potential surge, all eyes are on whether HBAR can sustain buying pressure and break through key resistance levels in the coming days.

HBAR ETF, Developer Growth May Fuel The Rally

Beyond technicals, fundamental factors are also driving optimism. HBAR is seeing a surge in developer activity, with over 100 active monthly developers, up from less than 50 in 2023. The total value locked has also surged to $180 Million, up from $25 Million last year.

Additionally, the possibility of an HBAR ETF could further boost demand. Canary filed for a spot HBAR ETF in Oct 2024, and analysts believe that under SEC Commissioner Paul Atkins, approvals are more likely than under Gary Gensler’s leadership.

Bloomberg ETF analyst Eric Balchunas also suggested that HBAR could be among the next wave of crypto ETFs, following Bitcoin, Ethereum, and Litecoin. He highlighted that HBAR's regulatory clarity—not being classified as a security—positions it ahead of assets like XRP and Solana, which face ongoing legal scrutiny.

The crypto ETF market has already seen $2.5 Billion in Ethereum ETF inflows, setting the stage for HBAR to benefit from similar investor interest. Even if institutional adoption remains uncertain, the hype and speculation surrounding ETF approvals could act as a major price catalyst in the months ahead.