The price of Hedera looks ready for a potential jump. The charts show what traders call a bullish pennant pattern, which often signals upcoming price moves.
Crypto analyst World Of Charts revealed on X (formerly Twitter) that HBAR could rise by 60-65% once it breaks out of this pattern.
What you'll learn 👉
HBAR Chart Analysis
The price of Hedera is getting squeezed between two trendlines – one sloping down from above and one rising from below, forming a triangle shape. When prices get compressed like this, it often leads to a big move in either direction.
Moreover, a breakout typically follows this tightening pattern, either upward or downward. World Of Charts highlights this possibility, noting that a breakout could result in a 60-65% bullish wave for HBAR.
Looking at the price movement, HBAR is approaching an important point where it needs to make a move either up or down. If Hedera’s price pushes above the upper trend line, it would support World Of Charts’ prediction of a strong upward trend.
Hedera Support and Resistance Levels at Play
Looking at the support and resistance zones in the chart, the lower trendline represents a key support level for HBAR. The price keeps bouncing back up when it hits this lower line on the chart, showing that people want to buy HBAR at these prices.
At the top, there’s another line where HBAR’s price has stopped and turned around several times. If the price can finally push past this point, we’ll likely see it start moving up much faster.
Everyone’s watching to see when HBAR might break through that top line. When it does, the price could shoot up quite a bit – just like World of Charts has been saying.
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Analyst’s Forecast Aligns with Chart Indicators
The prediction from World Of Charts aligns well with the technical indicators present in the chart. This triangle pattern we’re seeing typically leads to a strong move in whatever direction the price was heading before, which in this case is up. Based on how the market looks, many people think Hedera’s price is about to take off.
All eyes are on that upper line where HBAR’s price keeps stopping. If it finally pushes through, Hedera could start a whole new upward run. People are basing their targets on how much the price moved before it got stuck in this triangle.
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