Key Levels to Watch as Hedera (HBAR) Price Gains Momentum: Here’s The Outlook

Hedera’s price movement has caught the eye of many crypto watchers lately. Top analyst Scofield shared on X (formerly Twitter) that the price of Hedera might be preparing for a potential upward surge. The tweet, which simply states, “$HBAR Matter of time to pump,” reflects growing optimism surrounding the token’s future trajectory.

Hedera Chart Analysis: Symmetrical Triangle Pattern Signals Bullish Momentum

The HBAR price has been going up steadily since last October, with a big jump at first. Then from mid-December to early January, the price moved sideways in what traders call a symmetrical triangle pattern. When prices move like this after going up, they often keep climbing once they break free.

That’s exactly what happened in mid-January – HBAR broke out of its sideways pattern and started climbing again. Following the breakout, Hedera’s price briefly pulled back, testing previous resistance levels as support. This healthy price action indicates a strong foundation for potential further gains, aligning with Scofield’s optimistic tweet.

HBAR Key Support and Resistance Zones

The analysis identifies two key support levels for HBAR. The $0.30 zone, tested multiple times during the consolidation phase, has proven to be a reliable pivot point. Meanwhile, the $0.32 level has emerged as a higher low after the breakout, reinforcing the token’s bullish trajectory.

On the resistance side, HBAR faces challenges at $0.37 and $0.40, where the price encountered rejection recently. These levels are likely to be tested again if bullish momentum persists, serving as benchmarks for HBAR’s next potential move.

Read Also: ONDO Token Breaks Major Resistance, Analyst Predicts Surge to These Key Price Targets

Furthermore, market sentiment around HBAR remains positive, supported by the breakout from the symmetrical triangle. While the recent 7.27% price drop may appear concerning, the token continues to trade above key support levels. This resilience reflects underlying strength and positions HBAR for further gains if momentum holds steady.

Tweet Reinforces Community Optimism

Scofield’s tweet amplifies the community’s anticipation of a price rally, emphasizing the potential for a “pump” soon. This aligns with technical signals on the chart, creating an atmosphere of cautious optimism among traders and investors monitoring HBAR’s price movements.

HBAR’s ongoing momentum and technical structure suggest an intriguing outlook, with support and resistance levels providing clear markers for its potential trajectory. As market participants await further developments, Hedera remains a focal point in the digital asset space.

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