Hedera price has surged in recent sessions, with HBAR positioned for a breakout from a bullish chart pattern.
The recent moves reflect an improvement in overall sentiment across some altcoins. However, a breakout requires follow-through buying.
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HBAR investors are buying
Money flow indicators are indicating increasing buying pressure on HBAR. This indicator is trending upward, indicating that capital is returning to assets. Strengthening in MFI measurements often reflects increased demand during the early stages of recovery.
Investors seem to be flocking in as prices start to rise. Increased participation provides liquidity support and strengthens the bullish structure. If buying pressure continues to build, HBAR could sustain upward momentum above short-term resistance.
The liquidation heatmap highlights $0.1084 as an important level. Around this range, about $1 million worth of short positions could face liquidation. Moving through this zone could accelerate upward volatility.
Short-term liquidations often cause prices to skyrocket. Buying pressure increases as bearish traders are forced to cover their positions. In the case of HBAR, the $0.1084 settlement could act as a catalyst for expanded profits.
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However, investors need to maintain bullish momentum until it reaches that level. Without steady accumulation, the market may struggle to generate the necessary pressure. The durability of a breakout depends on consistent capital inflows and reduced profit taking.
HBAR price needs to secure support
HBAR price is trading at $0.1025 and is facing resistance at $0.1030. If this level is secured as support, a breakout will be ensured. However, a decisive pullout above the resistance could point sentiment towards a sustained recovery.
The token is moving within a descending expanding wedge. This formation predicts a 57% upside potential if confirmed. Although this forecast indicates strong upside potential, a more realistic target is around $0.1234, which could recoup recent losses.
On the other hand, downside risk increases if investors start taking profits prematurely. A pullback towards the $0.0901 support will invalidate our bullish theory. Going forward, maintaining buying pressure will continue to be essential for Hedera’s price to rise and maintain its breakout momentum.
