HBAR Price Poised for Bullish Breakout as Falling Wedge Pattern Forms
HBAR price is showing signs of a potential bullish breakout. Teh token has formed a Falling Wedge pattern, a bullish indicator. The $0.21 level is crucial as it aligns with the VWAP and value area low, creating a strong support zone.
Buyers are defending this level, suggesting a breakout could be imminent. If confirmed with strong volume, the price could surge toward the $0.30 resistance. This level has historically capped rallies, but a breakthrough could signal further gains.
Key points to watch:
- Strong Support at $0.21: Aligns with VWAP and value area low.
- Bullish Falling wedge: Price is consolidating, ready for a potential breakout.
- upside Target: A triumphant breakout could aim for $0.30 and beyond.
Recent news about HBAR’s DTCC ETF listing and Archax developments adds to the bullish sentiment. These factors could provide the necessary momentum for a breakout.
The Falling Wedge pattern is known for its bullish bias, especially when supported by increased buying pressure. So far, the $0.21 support has held, maintaining the integrity of the pattern. If bulls can push past $0.30 with strong volume, the price could extend toward higher value areas.
if the $0.21 support continues to hold, the Falling Wedge setup remains valid. A confirmed breakout could propel HBAR price toward $0.30 and potentially higher, setting the stage for a stronger upward trend.
