Hedera Hashgraph (HBAR) breaks out from a prolonged downtrend, rallying 15% in a single session and reclaiming the critical $0.20 level amid renewed market optimism.
Hedera Hashgraph (HBAR) saw a sharp 15% intraday surge, lifting prices above the key $0.20 resistance zone and marking a strong technical breakout from weeks of consolidation. The move comes as trading volumes spike, signaling fresh bullish momentum across mid-cap altcoins, while broader crypto sentiment remains cautiously optimistic.
On the 4-hour HBAR/USDT chart, HBAR price has decisively broken above a major resistance zone around $0.195–$0.205, which had capped previous rallies throughout October. This upward move follows a strong rebound from the green demand zone near $0.155–$0.165, where buyers accumulated after a steep correction earlier this month.
The chart highlights a clear downward channel breakout, suggesting the end of the recent bearish structure. As price action now consolidates above the $0.20 mark, technical analysts are watching whether HBAR can maintain momentum to test the next resistance near $0.22–$0.225.
“HBAR reclaiming the $0.20 region is technically significant,” BitXJournal market analyst commented. “This level acted as resistance for several weeks, and the breakout on high volume confirms renewed buying strength. Sustaining above $0.195 could shift the short-term bias fully bullish.”
Volume data supports this breakout, showing a notable spike in trading activity during the rally, indicating participation from both retail and institutional traders. Momentum indicators, such as the Relative Strength Index (RSI), are trending toward overbought levels, but not yet showing signs of exhaustion—leaving room for potential upside continuation.
Still, analysts caution that a failure to hold above $0.195 could trigger a short-term retest of lower support levels near $0.18, especially if profit-taking increases in the coming sessions.
“The $0.20 zone is now the key pivot,” BitXJournal trader noted. “If HBAR holds this level through the weekend, the path to $0.22 and even $0.25 opens up. But any rejection could send it back toward the mid-$0.18 range.”
With HBAR up over 15% and trading firmly above $0.20, Hedera’s price action points to a potential trend reversal. The breakout from the descending channel and a confirmed support retest around $0.195 could set the stage for further gains, provided buyers maintain control over the coming days.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.