Hedera’s native token is demonstrating renewed bullish momentum, attracting attention from analysts as key technical and market signals align. Analyst Merlijn The Trader has noted a completed breakout from a falling wedge pattern near the $0.23 level, a technical formation that often indicates the end of a downward trend and the beginning of an uptrend. Following this breakout, Merlijn is optimistic about a potential price surge towards $0.30 or higher, especially given the increasing market interest and significant smart money inflows.
The price has recently been trading around $0.24, with trading volume reaching $183.5 million, further underscoring the positive market sentiment. However, maintaining support at $0.233 is critical to sustaining this bullish momentum. A successful retest of the breakout point reinforces the potential for continued gains and pushes the market toward the next resistance level.
In a broader market outlook, analyst STEPH IS CRYPTO suggests that Hedera may be entering the final phase of its current bull market. A weekly chart indicates a favorable period of price appreciation extending through mid-2025, with projections suggesting a rise that could push prices toward $0.90 before a long cooling phase begins. This outlook paints a picture of an impending strong rally, contrasting with potential retracement areas below $0.20 or even near $0.05 in the event of extended selling pressure in the future.
Recent trading activity within the last 24 hours showed a steady price range for HBAR, fluctuating between $0.233 and $0.24. This represents a 1.07% daily gain and illustrates healthy market liquidity. The current market capitalization stands at $10.09 billion, positioning Hedera as the 25th largest cryptocurrency by market cap.
Throughout the trading session, the price exhibited a pattern of higher lows, particularly gaining traction around midday as it spiked briefly to $0.238. This trend of higher lows indicates a market poised for a potential upward movement, provided that the volume remains consistent and above the critical support level of $0.233.
Analysts are closely monitoring these key levels, as staying above $0.233 will be vital for confirming the bullish trend signaled by the falling wedge breakout. Should HBAR continue to build on its current structure, further upward advances appear probable, aligning well with both short-term and longer-term price projections.
