Veteran analyst Lucky just dropped a fresh technical analysis on Hedera (HBAR) price, and according to him, a big move might be right around the corner. In a post shared on X, he laid out a chart that points to a possible 160%+ price surge for HBAR, and it’s catching attention as altcoins across the board try to bounce back after weeks of sideways action.
In his tweet, he said, “$HBAR will pull out another huge push, IMO,” and tagged the Hedera community with a hint of anticipation. The chart he shared shows HBAR trading inside a descending channel, a pattern that could soon break to the upside and set the stage for a longer rally.
What you'll learn 👉
Hedera Technical Structure Points to Imminent Reversal
HBAR price has been trading within a descending channel since late 2024. The pattern has contained price movement within two downward-sloping trendlines. This structure has defined the broader market trend over the past several months, with the token respecting the upper and lower boundaries consistently.
The asset previously broke out from a downtrend in November 2024. That breakout resulted in a sharp rally toward $0.45. A similar structure appears to be developing now. HBAR is currently hovering near the lower bound of the same channel, where past rebounds have occurred. Technical signals indicate a potential breakout as the price nears a key trendline once again.
Moreover, the HBAR price chart identifies a support zone between $0.08 and $0.12. This range has served as a consistent area of buyer interest since December. Each dip into this zone has been met with accumulation, preventing further downside.
In May, HBAR attempted a breakout above the descending resistance. However, it failed to hold above the breakout point and re-entered the support region. Analysts view this as either a false breakout or a potential retest before the next upward move. The current setup suggests a renewed attempt is forming.
Projected Hedera Price Targets and Market Context
According to the chart analysis, if the descending channel is broken decisively, HBAR price could rise to $0.30 in the near term. Further consolidation could follow, with an extended target near $0.42. This target mirrors the November breakout, where a parabolic move unfolded after a similar structure.
The analysis remains conditional on support holding and trendline resistance being cleared. A breakdown below the support zone could challenge the bullish outlook and test lower levels around $0.06. For now, price action near the $0.16 mark will be a key area to watch as traders await confirmation.
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