Hedera Price Primed for Upswing: Is $0.33 Next?

Hedera (HBAR) shows strength with price surges and renewed interest. Is a breakout to $0.33 imminent? Key support levels and technical analysis inside.

Hedera Price Primed for Upswing: Is $0.33 Next?

Hedera (HBAR) is showing remarkable strength, with price surges and renewed interest mirroring broader market sentiment. The big question: can HBAR sustain this momentum?

Triangle Pattern Points to Potential Breakout

Currently, HBAR is trading within a triangle pattern, a formation that often precedes significant price movements. The token is caught between a descending resistance near $0.24 and an ascending support level around $0.23. This compression suggests a breakout is coming soon.

Analyst's Eye View

According to crypto analyst ALLINCRYPTO, if HBAR breaks above $0.24, technicians see potential for a surge to $0.33. However, a breakdown below $0.23 could trigger a sell-off to $0.17, back to a critical support region. Volume will be the deciding factor, so be sure to trade with caution.

Stargate Integration Boosts DeFi

Hedera has integrated with Stargate Finance, enhancing cross-chain access. This allows $HBAR users to seamlessly transmit wrapped Ethereum (wETH) to over 40 additional chains, linking Hedera directly to the broader DeFi ecosystem. SaucerSwap has also issued a fresh wETH liquidity pool.

Key Levels to Watch

Immediate support sits around $0.24, while $0.244 remains the critical resistance level. A strong break above $0.244 may attract more buying interest. Conversely, sustained trading below $0.24 could indicate weakening momentum.

Historical Patterns and Future Outlook

One analyst, STEPH, compares Hedera’s current chart structure with its breakout cycle from 2020 to 2021. The current range between $0.03 and $0.10 mirrors an earlier accumulation phase. Repeating this structure may prepare it for another strong upward phase.

Final Thoughts

Hedera's price action is definitely one to watch. With technical indicators suggesting a potential upswing and key integrations boosting its DeFi capabilities, HBAR could be gearing up for a wild ride. Buckle up and remember to do your own research before diving in!