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Hedera (HBAR) To Rise Further? Key Breakout Signals Potential Upside Move

Hedera (HBAR) To Rise Further? Key Breakout Signals Potential Upside Move

CoinsProbeCoinsProbe2025/05/09 22:22
By:Nilesh Hembade

Date: Fri, May 09, 2025 | 08:45 AM GMT

The cryptocurrency market is gaining momentum again, with Bitcoin (BTC) smashing past $103K and Ethereum (ETH) jumping over 27% in the last 24 hours to trade above $2,450 — its highest level in months. This bullish wave is also pushing major altcoins higher, and Hedera (HBAR) appears to be one of the key beneficiaries.

HBAR has already surged over 7% today, adding to a solid 30% gain in the past month. And based on the current chart structure, this rally might just be getting started.

Hedera (HBAR) To Rise Further? Key Breakout Signals Potential Upside Move image 0 Source: Coinmarketcap

Inverse Head and Shoulders Breakout Detected

On the daily chart, HBAR has formed a textbook inverse head and shoulders pattern — a reliable signal often linked with trend reversals from bearish to bullish.

After bouncing strongly from the right shoulder support near $0.1693, HBAR managed to break above the neckline resistance around $0.20, which also coincides with its 100-day moving average. While the breakout is promising, a confirmation above the 200-day moving average (~$0.2069) is still pending.

Hedera (HBAR) To Rise Further? Key Breakout Signals Potential Upside Move image 1 Hedera (HBAR) Daily Chart/Coinsprobe (Source: Tradingview)

If HBAR can hold above the neckline and break past the 200-day MA with volume, the bullish reversal will likely be validated. This could open the door for a powerful move toward the next key resistance area around $0.2876 — roughly 44% higher from current levels.

In short: HBAR’s technical setup looks strong, and if momentum holds, the token could be gearing up for a significant breakout rally.

Disclaimer: This article is for informational purposes only and not financial advice. Always do your own research before making any investment decisions

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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