HBAR Price Hovers Near Symmetrical Triangle As Breakout Looms

HBAR, the native token of Hedera Hashgraph, is currently forming a symmetrical triangle on its price chart, a pattern that is drawing increased attention from traders and analysts as it could signal a key breakout in either direction. The triangle, defined by converging support and resistance lines, has developed over recent weeks as the price consolidates between $0.23 and $0.27. Traders are closely monitoring the pattern for a decisive move that could shape the short-to-medium-term trajectory of the asset [4].

The price has shown resilience in holding above the 50-day simple moving average, currently near $0.242, which has acted as a key support level. Meanwhile, the 9-day EMA sits at $0.248, further suggesting that short-term momentum remains aligned with the bullish structure. If the price manages to break above the upper boundary of the triangle—currently in the $0.26–$0.27 range—it could trigger a move toward $0.30 and potentially extend to $0.34–$0.36. This would represent a significant shift in sentiment, especially given the asset’s previous rally from $0.12 to $0.28 earlier in the year [4].

However, the opposite scenario remains equally plausible. A breakdown below the $0.242 support could send the price toward $0.22 and possibly $0.20, with further consolidation or a short-term bearish correction likely in such a scenario. The current balance between buyers and sellers appears fragile, with volume declining as the pattern matures. This is a typical precursor to a sharp breakout, but it also highlights the high degree of uncertainty in the market [4].

Analysts from Alpha Crypto Signal have also identified a descending triangle, suggesting a bearish continuation setup. They emphasized that $0.23 is a crucial level, with risks of further declines if the support is breached. “Sellers are consistently pressing lower highs, while buyers are just barely holding that horizontal support,” the analysis stated, underscoring the tension within the triangle pattern [4].

The symmetrical triangle is a continuation pattern, implying that once the price breaks out, it is likely to continue in the direction of the prior trend. Given that HBAR has remained above $0.23, the prevailing bias remains mildly bullish. However, the volatile nature of the crypto market means that caution is warranted, and confirmation of any breakout should be based on sustained price action and increased volume [4].

Wave analysis also supports the idea that HBAR is at a critical juncture, with some traders speculating that it may be entering a Wave 5 move in a larger upward sequence. This suggests that the upside potential could extend beyond immediate targets if the breakout is confirmed. Yet, such predictions remain speculative and require further validation through on-chain activity and volume dynamics before they can be considered actionable [6].

Traders are also using the triangle as a psychological trigger for strategic entry and exit points. A breakout above resistance could prompt a short-term rally, while a breakdown below support may lead to further consolidation or even a bearish correction. Stop-loss placements for long positions are typically set below the triangle’s lower boundary to manage risk effectively [4].

HBAR’s price behavior is being analyzed within the broader context of the crypto market’s volatility and the influence of macroeconomic factors. While the symmetrical triangle provides a useful framework for understanding near-term price movements, it is important to recognize that external developments—such as regulatory news or broader market shifts—can also impact the outcome. Therefore, while the pattern is bullish in implication, it is not a guarantee of price direction [4].

Source:

[1] Cryptocurrency Price Analysis (https://coingape.com/category/price-analysis/)

[6] Page 4 | Wave Analysis — Trading Ideas on (https://www.tradingview.com/ideas/waveanalysis/page-4/)