HBAR Price Tests Critical $0.18 Resistance: Can the Bulls Break Through?

HBAR price surges on Grayscale inclusion, testing a key resistance level. Will the bulls maintain momentum and push HBAR to new heights?

HBAR is making moves! Riding high on Grayscale's decision to include it in their Smart Contract Platform Fund, HBAR's price is testing a crucial resistance level of $0.18. The question now is, can the bulls keep the momentum going?

HBAR's Bullish Momentum: A Deep Dive

On July 9, 2025, HBAR witnessed a price increase of over 5%, fueled by Grayscale's announcement. This sustained investor interest highlights HBAR's growing prominence alongside Ethereum, Solana, and Cardano.

According to Grayscale's updated GSC fund allocation, HBAR now holds approximately 5.8% weight, placing it ahead of Avalanche. This move solidifies HBAR's position in institutional conversations.

Technical Analysis: Double-Bottom Pattern in Play

The HBAR daily price chart reveals a classic double-bottom reversal pattern, with lows at $0.13 in mid-April and late June. This bullish setup suggests a potential 60% breakout if confirmed by a close above the neckline resistance near $0.22.

If the bulls manage a decisive close above $0.18, the technical projection from the double-bottom pattern points to the next major target at $0.28, aligning with a previous rejection in March. However, failure to surpass $0.18 could lead to consolidation back to the $0.15 level, with solid support from the EMA and Bollinger mid-band.

Solaxy: A Solana Layer 2 Catching the Eye of HBAR Bulls

With HBAR benefiting from institutional tailwinds, investors are also exploring early-stage opportunities like Solaxy, Solana’s first Layer 2 solution. Solaxy combines meme appeal with real Layer 2 infrastructure, attracting both retail and corporate traders.

Currently in presale, the $SOLX token offers staking APY as high as 71%, drawing attention from HBAR and Solana holders seeking early exposure to the next L2 breakout.

Potential Roadblocks and Considerations

While the technical indicators suggest a bullish outlook, the Relative Strength Index (RSI) reading of 62.04 signals potential overheating, advising caution as the price tests key resistance at $0.18. It's essential to watch for any signs of long-term holders taking profits, which could trigger a temporary pullback.

Final Thoughts: Will HBAR's Bulls Conquer $0.18?

HBAR's recent surge is exciting, and the technicals look promising. However, like navigating the NYC subway during rush hour, a little caution can save you from getting squished. Keep an eye on that $0.18 resistance – if HBAR breaks through, we could be looking at a whole new ballgame. If not, well, there's always the next train (or in this case, the next bullish run)!