HBAR Breaks Above Massive Falling Wedge – Expert Sets $0.38 Target
Hedera Hashgraph (HBAR) has surged over 20% in the past week, reflecting bullish momentum in the crypto market despite macroeconomic uncertainties. HBAR is trading near a critical resistance level, with traders monitoring for confirmation of a sustained uptrend. Analyst Carl Runefelt noted HBAR's breakout from a falling wedge pattern, a bullish signal that often precedes significant price increases. HBAR remains over 50% down from its local highs earlier this year but shows potential for a reversal as market sentiment improves. Currently priced at $0.185, HBAR is testing resistance around the 200-day Exponential Moving Average (EMA) and aims to reclaim the $0.20 level. A successful breakout could lead to a rally towards $0.25, while failure to hold above $0.175 may result in a deeper retracement to $0.15. The upcoming sessions are crucial for confirming HBAR's uptrend or indicating a return to consolidation.
