HBAR Surges Past Major Falling Wedge: Analyst Predicts $0.38 Price Target

Hedera Hashgraph (HBAR) is demonstrating significant signs of recovery, leaping over 20% in the past week as optimistic momentum spreads throughout the wider crypto market. In spite of ongoing macroeconomic doubt and global financial instability, the recent price surges of Bitcoin have rekindled hope, elevating the entire market alongside it. HBAR is now trading near a vital resistance level, with traders observing closely for affirmation of a permanent uptrend.

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Top analyst Carl Runefelt shared perspectives on X, indicating that HBAR has officially escaped a substantial falling wedge formation—an essential bullish technical indicator. Breakouts from falling wedges frequently precede sharp upward movements, particularly when supported by strong volume and overall market backing. As HBAR rides this wave of momentum, investors are targeting higher levels if significant resistance zones are transformed into support.

With renewed interest in risk within the crypto sphere and leading assets such as Bitcoin setting the pace, HBAR may be positioning itself for a considerable continuation rally. Nevertheless, market conditions persist in volatility, and any withdrawal from broader sentiment shifts may challenge HBAR’s resilience. For the moment, bulls seem to dominate—and if the breakout remains intact, HBAR could soon aim for new local peaks.

HBAR Targets Continuation Amid Renewed Crypto Activity

Hedera Hashgraph (HBAR) is trading at a pivotal juncture as bulls maintain pressure following a sharp breakout from a longstanding downtrend. The asset is still over 50% below its local peaks earlier this year, yet recent developments indicate that HBAR could be preparing for a potent reversal, particularly as overall market sentiment starts to improve.

Global tensions and ongoing trade anxieties between the US and China continue to unsettle equities and traditional markets. Nonetheless, crypto assets are beginning to deviate from this trend, with Bitcoin leading a notable ascent that has begun to elevate altcoins such as HBAR. This decoupling could herald the onset of a fresh shift into digital assets as investors pursue growth beyond conventional markets.

Runefelt’s insights underscore that HBAR has escaped a significant falling wedge formation, typically signaling a bullish reversal. This breakout validates the potential for upward momentum, especially if HBAR can continue to navigate current supply zones. The next significant target is situated around the $0.38 level, but to achieve this, bulls must maintain their pressure and sustain higher lows in the upcoming sessions.

If the momentum persists and macro fears subside even slightly, HBAR could be set to astonish the market with a brisk rally.

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Price Challenges Key Resistance Amid Optimistic Momentum

HBAR is presently trading at $0.185 while testing a vital resistance area surrounding the 200-day Exponential Moving Average (EMA). Bulls are now striving to reclaim the $0.20 mark, which closely corresponds with the 200-day Simple Moving Average (SMA). A clear breakout above this range would confirm the optimistic momentum and potentially pave the way for a rally toward higher levels, including the $0.25 threshold.

Following a rise of over 20% in the previous week, HBAR’s price movement is displaying initial indicators of robustness, though confirmation is essential. Maintaining a position above $0.185 and overcoming the $0.20 threshold would affirm the recent breakout from a descending wedge formation and imply that bulls are in charge.

Nonetheless, the upward movement remains delicate. Should HBAR not manage to sustain above the $0.175 mark, it might experience a deeper correction, reverting to earlier support levels around $0.15. This would nullify the existing breakout setup and heighten bearish momentum.

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Traders are currently observing intently as HBAR engages with long-term moving averages—points that frequently act as a threshold between bear and bull markets. The forthcoming sessions will likely dictate if HBAR solidifies its upward trend or returns to a phase of consolidation.

Featured image from Dall-E, chart from TradingView