Hedera (HBAR) Breaks $0.23, Eyes Further Gains
Key Takeaways
Hedera (HBAR) has broken through the resistance level of $0.23, indicating a bullish market structure. Despite the recent increase, short-term corrections could occur before another upward trend follows. The next resistance levels are at $0.267, $0.284, and $0.326.
Hedera Breaks Resistance at $0.23
Hedera’s price has stabilized after a correction and surpassed the $0.23 mark. This signals a positive market structure, suggesting further growth. The support at $0.175 was successfully defended, reinforcing the bullish trend.
Capital Inflows Rising – A Buy Signal?
The Chaikin Money Flow (CMF), an indicator of capital inflows, is above +0.05, indicating strong demand. In recent days, the CMF has recovered from negative territory and now signals increased buying activity.
Technical Hurdles on the Way Up
Although the price increase is promising, there are resistance levels in the $0.255–$0.265 range. This zone served as support in December but was broken in January. A retest of this level could lead to short-term selling pressure.
Possible Price Movements in the Coming Days
A pullback to the $0.216–$0.242 range is possible before another upward trend begins. According to liquidity analysis, the price could consolidate first to create new buying opportunities. The next price targets are $0.267, $0.284, and $0.326.
Market Sentiment is Improving
Data from Santiment shows that HBAR’s social volume has increased, indicating growing interest in the cryptocurrency. Additionally, weighted sentiment is back in positive territory, suggesting an optimistic market outlook.
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Our Assessment
Hedera is showing a bullish market structure, but short-term pullbacks cannot be ruled out. Strong demand and rising capital inflows support further growth. However, investors should keep an eye on the resistance in the $0.255–$0.265 range. A pullback to the $0.216–$0.242 range could present a buying opportunity.
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