HBAR Shifts to Bullish Phase with $0.504 Breakout Leading to 75% Upside

• Hedera (HBAR) targets $0.504 after breaking a 108-week downtrend, signaling a potential 75% upside with bullish momentum.
• Consolidation near $0.504 hints at market stability, while a breakout could unlock a 90% upside toward $0.962.
• Strong buying pressure and a bullish breakout mark a pivotal shift in Hedera’s sentiment, driving investor optimism.

Hedera (HBAR) shows signs of a bullish continuation. With a breakout target set at $0.504, the asset has confirmed technical patterns pointing to a potential 75% upside. This resurgence, fueled by renewed investor confidence, marks a pivotal shift from its prolonged bearish phase.

Key Technical Patterns and Breakout Analysis

HBAR experienced a steady downtrend, losing value from its peak of $0.42758 over 108 weeks. The volume-weighted average price (VWAP) during this phase stood at $0.17136, reflecting persistent bearish sentiment. However, the tide turned as the asset decisively broke out of this downward trend, signaling a major shift in market dynamics.

Following the breakout, the price surged, forming a steep upward rally characterized by consecutive bullish candles. This price action highlighted strong buying pressure and renewed market interest. Key resistance levels at $0.504 and $0.842 were identified, with HBAR nearing the lower target during this rally. Additionally, the sharp upward momentum underscores the breakouts as crucial market indicators.

Consolidation Phase and Future Prospects

After the initial rally, HBAR entered a consolidation phase, with smaller price movements hinting at market stabilization. This pause, often observed after sharp rallies, may pave the way for the next bullish leg. If the price breaks and holds above $0.504, a potential 90% upside toward $0.962 could materialize, further amplifying investor optimism.

Moreover, the market’s transition from bearish to bullish sentiment has been evident in the increased trading volume and consistent buying pressure. The price movements have emphasized the importance of critical support and resistance levels in determining future trends.