Hedera HBAR Nears Breakout as Analyst Flags $3.30 Target in Inverse Head and Shoulders Pattern

The Hedera (HBAR) community has been abuzz with speculation after a technical analysis shared by popular analyst @ChartNerdTA on X highlighted a complex inverse head and shoulders pattern on the weekly chart [1]. This pattern, a well-known bullish reversal structure, has led to forecasts suggesting that HBAR could break out to $3.30 [1]. The analysis has stirred excitement, with many community members expressing optimism and even joking about reaching the milestone price [1].

According to ChartNerd, the inverse head and shoulders pattern has been forming since HBAR’s all-time high and is currently in the final phase of development [1]. The structure is described as a textbook formation, with the left shoulder indicating a local bottom during a mid-cycle correction, the head representing a strong support level, and the right shoulder now in progress [1]. A breakout through the neckline would confirm the pattern and potentially push the price toward $3.30 [1].

The analyst emphasized that the target aligns with a 161.8% Fibonacci extension from the neckline to support, reinforcing the technical validity of the pattern [1]. While additional potential targets such as $1.24, $1.85, and $3.20 were also mentioned, $3.30 remains the primary focus [1]. “This breakout target is quite interesting because it also ties up with the 161.8 fib extension,” ChartNerd explained, reiterating the alignment with classic technical analysis principles [1].

Community reactions have ranged from enthusiastic to cautious. Some users, like @VectRast_Crypto, stated that if HBAR breaks the neckline cleanly, “$3 isn’t a dream – it’s a roadmap.” Others, like @ScottMa33568023, expressed more bullish optimism, stating the token “is going to the moon.” However, not everyone is convinced. A few users have noted more conservative expectations, with one quipping, “Can it please get to 50 cents first?” [1].

Despite the enthusiasm, the pattern has not yet confirmed. ChartNerd acknowledged that market conditions over the coming months will determine whether the right shoulder completes and the breakout materializes [1]. The analyst also noted the importance of monitoring how the pattern plays out over time, as technical indicators are not guarantees [1].

Inverse head and shoulders formations are among the most reliable bullish reversal patterns, especially when formed over extended timeframes [1]. HBAR’s current position near the neckline adds weight to the possibility of a breakout, but it remains to be seen whether the conditions will support such a move. As ChartNerd pointed out, the technical setup is solid, but real-world market dynamics will ultimately decide the outcome [1].

Source: [1] [HBAR Price to Hit $3? Hedera Community Gets Hyped On This Chart](https://coinmarketcap.com/community/articles/6895e7e01214ff464aa18f32/)