Hedera is drawing attention as traders assess whether a breakout from a long-term wedge pattern could open the door to a much higher move.
According to technical analysis shared by crypto trader Merlijn The Trader on X(Formerly Twitter), HBAR price appears to be nearing the end of a multi-month downtrend, with both price and RSI bouncing from a major support area.
The tweet suggests a target of $0.60 if momentum continues to build.
What you'll learn 👉
HBAR Chart Nears Wedge Breakout
The two-day HBAR chart presents a descending wedge structure, with price trending lower since early 2025. This pattern is formed by a declining resistance line and a flatter support line, creating a narrowing price range.
Descending wedges are generally viewed as reversal patterns. In this case, the setup appears near a long-standing support zone, further strengthening the potential for a change in direction.
The structure reflects a slowdown in bearish momentum, as the lower highs compress into a tight zone.
Hedera Price and RSI Testing Major Support Zone
HBAR price is currently holding above a broad support band ranging between $0.130 and $0.160. This level has acted as a demand zone multiple times throughout early 2025.
Historical reactions from this area have led to short-term bounces. The RSI is also approaching a support region between 30 and 35. This zone has marked the bottom of past corrections.
RSI flattening near this level may indicate selling pressure is weakening. With both price and momentum aligned near support, traders are watching closely for a breakout confirmation.
Breakout Path Points Toward $0.60 Target
A visual projection included in the shared HBAR chart outlines a possible path toward $0.60. This route includes a breakout above resistance, followed by a retest near the $0.22 to $0.25 area, and then continuation higher.
Such movements follow standard breakout patterns in technical setups. While the $0.60 target may appear ambitious, the projected move is technically grounded.
The pattern structure, combined with support bounces and wedge compression, builds a case for potential upside if volume supports a breakout.
Read Also: Aptos and Hedera Stuck in Ranges: Here’s What Could Trigger the Next Big Breakout
Analyst Commentary and Conditions for Confirmation
Merlijn The Trader described HBAR as “coiled like a spring,” referencing the compression of the wedge and support from the RSI.
The tweet added that the descending wedge is “almost history,” suggesting the pattern may soon resolve. However, confirmation requires a clean breakout with volume.
Until that happens, Hedera price remains inside a downward trend channel. The structure is intact, but traders await validation before considering upside targets.
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