HBAR Poised for 20% Rally, Chart Flashing Buy Signal
Amid ongoing bearish market sentiment, Hedera’s local token HBAR is expected to hold an impressive rally as it has moved away from the bullish price action pattern. On February 28, 2025, after the opening clock of the U.S. market, most assets began to experience price discounts.
HBAR bullish breakthrough
HBAR witnessed a 7.5% uptrend, with assets resistant at $0.20 as prices rise and is expected to break through. Currently, HBAR is trading close to $0.21, up 6.5% over the past 24 hours.
During the same period, its upward momentum fueled a surge in traders and investor participation, resulting in a 70% increase in trading volume.
HBAR technical analysis and upcoming levels
According to expert technical analysis, HBAR seems to be optimistic because it has gotten rid of the bullish double bottom price action pattern formed over a four-hour time frame. Based on historical price momentum, if Altcoin closes four-hour candles above $0.21, it is likely that it will soar 20% to $0.25 in the next few days.
Bullish chain indicators
After the breakthrough, emotions seem to be turning to the positive. Traders bet on bullish terms while investors are accumulating tokens, as Chain Analytics reports Small shop.
Data from spot inflows/outflows suggests that the exchange has witnessed the outflow of $2.5 million worth of HBAR over the past 24 hours, indicating potential accumulation, which could create buying pressure and rising rally.
In addition to the bullish outlook for investors and long-term holders, intraday traders appear to be increasing their bets on bullish, and the Bulls are currently dominating the assets.
At press time, long traders bet on a high leverage ratio of $0.1999, where they built a long position worth $31 million. Meanwhile, $2.18 is another level of over-leverage, where traders have established short positions worth $1.34 million on short sides.
Combining these on-chain metrics with technical analysis, it seems that the Bulls are currently in control and HBAR will soar soon.
