Hedera (HBAR) Price Breakout Ahead As Bullish Signs Appear | Airdrop Alert Pro

Hedera (HBAR) price action has been stagnant over the past few weeks, with limited upward momentum. Still, traders maintain a bullish outlook, anticipating significant price gains.

Unlike typical consolidation periods that trigger selloffs, the HBAR community appears to be optimistic about a breakout that could propel the altcoin higher.

HBAR Traders Bullish

HBAR’s open interest (OI) surged by $144 million last week, bringing total OI to $344 million. This huge increase shows that traders are actively Return to HBARfocusing on the potential gains from an expected uptrend. The rise in OI was further supported by positive funding rates, indicating that most futures Long positions reflect confidence in rising prices.

The surge in market participation is consistent with traders’ expectations for HBAR to break through key resistance levels. Capital inflows into the asset underscore the optimism as investors anticipate a shift in momentum. The alignment of funding rates with increases in open interest creates a solid foundation for potential bullish activity in the near term.

HBAR’s Macro Dynamics Showing signs of improvement as the Moving Average Convergence Divergence (MACD) indicator suggests the bearish pressure has ended. The MACD line is approaching a crossover with the signal line, signaling a potential bullish breakout. Such a shift would mark the start of upward momentum, supported by improving broader market cues.

The MACD’s proximity to a bullish crossover reflects growing optimism in the market, setting the stage for a price recovery. The combination of technical indicators with rising open interest and positive funding rates further strengthens the odds of a breakout for HBAR. Together, these factors suggest investor sentiment is turning bullish.

HBAR Price Forecast: Looking for a Breakout

HBAR is in trouble It has been in a consolidation phase over the past month, trading between $0.33 and $0.25. This price stagnation has limited profits for investors.

However, the above market clues suggest that a breakout is imminent. If successful, HBAR could rise to $0.39, reaching its 2024 highs, and possibly $0.40.

The breakout scenario relies on HBAR breaking out and flipping $0.33 to support, which would confirm the ongoing uptrend. This move will restore market confidence and attract more capital into the asset. On the other hand, failure to break $0.33 could prolong the consolidation phase, which could lead to selling pressure.

Sell-off triggered by prolonged consolidation could push HBAR is lower than its Support at $0.25. Such a scenario would invalidate the bullish outlook, causing prices to fall further and denting investor optimism.