HBAR Price Gears Up for Potential Breakout After Channel Compression
HBAR price is consolidating within a descending channel, suggesting an imminent breakout that could lead to significant upward movement.Summary
Hedera (HBAR) price action is showing signs of an impending breakout following a period of channel compression, as noted by analyst ZAYK Charts. The price is currently testing the upper trendline of a descending channel, a pattern that previously preceded a 70–80% rally. A confirmed close above this resistance could target an upside zone between $0.105 and $0.145, based on the measured move of the channel height.
Currently, HBAR is priced around $0.18, showing a 7.50% gain in 24 hours, with market capitalization near $7.72B. Technical indicators like the Bollinger Bands suggest renewed expansion, with the price moving toward the upper band. Furthermore, the Chaikin Money Flow (CMF) reading of 0.06 indicates that capital inflows are starting to surpass outflows, supporting the potential for bullish continuation if volume confirms the move.
(Source：Brave New Coin)