Hedera (HBAR) Price Nears Breakout from Multi-Month Downtrend

Hedera (HBAR) has attracted considerable attention from traders who are assessing whether a breakout from a long-term wedge pattern could lead to a significant price increase. According to technical analysis shared by crypto trader Merlijn The Trader, the HBAR price appears to be nearing the end of a multi-month downtrend. Both the price and the Relative Strength Index (RSI) have rebounded from a major support area, suggesting a potential shift in momentum.

The two-day HBAR chart exhibits a descending wedge structure, with the price trending lower since early 2025. This pattern is defined by a declining resistance line and a flatter support line, creating a narrowing price range. Descending wedges are generally seen as reversal patterns, and in this instance, the setup is near a long-standing support zone, further strengthening the potential for a change in direction.

The structure of the wedge indicates a slowdown in bearish momentum, as the lower highs compress into a tight zone. Currently, the HBAR price is holding above a broad support band ranging between $0.130 and $0.160. This level has acted as a demand zone multiple times throughout early 2025. Historical reactions from this area have led to short-term bounces. The RSI is also approaching a support region between 30 and 35, which has marked the bottom of past corrections. The flattening of the RSI near this level may indicate that selling pressure is weakening. With both price and momentum aligned near support, traders are closely monitoring for a breakout confirmation.

A visual projection included in the shared HBAR chart outlines a possible path toward a $0.60 target. This route includes a breakout above resistance, followed by a retest near the $0.22 to $0.25 area, and then continuation higher. Such movements follow standard breakout patterns in technical setups. While the $0.60 target may appear ambitious, the projected move is technically grounded. The pattern structure, combined with support bounces and wedge compression, builds a case for potential upside if volume supports a breakout.

Merlijn The Trader described HBAR as “coiled like a spring,” referencing the compression of the wedge and support from the RSI. The tweet added that the descending wedge is “almost history,” suggesting the pattern may soon resolve. However, confirmation requires a clean breakout with volume. Until that happens, the Hedera price remains inside a downward trend channel. The structure is intact, but traders await validation before considering upside targets.