<em><strong>The HBAR price chart shows an increase in trend momentum as it takes a bullish turnaround to challenge the 100-day SMA. Will the market price exceed $0.085?</strong></em>
<h3>Key Technical Points:</h3>
<ul>
 	<li>The Hedera (HBAR) price has increased by 40% in the last month.</li>
 	<li>The bullish reversal forms a rounding bottom pattern with a neckline at $0.085.</li>
 	<li>With a market cap of $1.70 billion, the intraday trading volume of Hedera has increased by 26% over the last 24 hours to reach $50.22 million.</li>
</ul>
<h3>Past Performance of HBAR</h3>
The <a href="https://www.cryptoknowmics.com/news/hedera-price-prediction-2022-2025/" target="_blank" rel="noopener">Hedera</a> (HBAR) price trend avoided a drop to the psychological mark of $0.050 during the correction, thanks to the bullish reversal from $0.059. The reversal rally rises above the 50-day SMA to challenge the overhead resistance confluence of the 100-day SMA near $0.085. The bullish reversal rally currently accounts for a price jump of 40% over the last month and a double bottom breakout.

<img src="https://s3.tradingview.com/snapshots/j/JDKKBpcX.png" alt="TradingView Chart" />

Source - <a href="https://www.tradingview.com/x/JDKKBpcX/" target="_blank" rel="nofollow noopener">Tradingview</a>
<h2>HBAR Technical Analysis</h2>
The HBAR technical chart shows a spike in the volume indicator supporting the engulfing candle and increasing breakout possibility. Moreover, the traders can expect the bullish breakout rally to reach $0.10. As Hedera's market price challenges the 100-day SMA, the breakout rally will result in a bull run above the $0.085 mark.

The daily-RSI slope displays a lateral trend with a bullish inclination in the nearly overbought zone reflecting a stronger bullish side. Moreover, the MACD indicator shows a rising trend in the fast and slow lines with a constant bullish gap. Hence the technical indicators maintain an overall positive outlook for the upcoming trend.

In a nutshell, the HBAR technical analysis forecasts a bullish breakout of the 100-day SMA.
<h2>Upcoming Trend</h2>
If the HBAR price exceeds the 100-day average, a potential bull run exceeding $0.085 will test the psychological resistance of $0.10.

However, a bearish reversal may take support at the 50-day SMA at $0.070.

Resistance Levels: $0.085 and $0.10

Support Levels: $0.80 and $0.70

HBAR Technical Analysis: Will This SMA Breakout Result In A Bull Run?

According to the technical analysis, HBAR price chart shows an increase in trend momentum as it takes a bullish turnaround to challenge the 100-day SMA.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

HBAR Technical Analysis: Will This SMA Breakout Result In A Bull Run?

Top Picks