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.
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) 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
