Hedera (HBAR) Surges 23% Breaking Key Resistance

Hedera (HBAR) has recently shown signs of renewed strength, breaking out of a tight trading range that had persisted for weeks. According to crypto analyst Ali, this move could be the start of a much larger rally, provided that a key resistance level is surpassed.

The 3-day timeframe chart shared by Ali highlights a significant bullish candle that closed around $0.238, marking a gain of over 23% in a single move. This breakout occurred after HBAR had been trading between $0.145 and $0.215 for most of June and early July. The lower range acted as a consolidation zone, with buyers and sellers vying for control. The recent bullish candle not only pushed through the $0.215 barrier but also briefly touched $0.257 before retreating slightly.

Ali's analysis indicates that Hedera is currently within a broader trading range, with the next major resistance level situated around $0.36. This level holds historical significance, as it acted as a ceiling where several rallies were rejected in January and February. If HBAR can break above this zone, it could ignite an "explosive rally," according to Ali.

Closer examination of the chart reveals that $0.36 is part of a higher range stretching from approximately $0.215 to $0.36. This range held earlier in the year before HBAR broke down into a lower band between $0.145 and $0.215. With the recent breakout from the lower band, HBAR has re-entered the mid-range and is testing its upper half. The move through $0.215 is crucial, but it is only the first step. Traders are now monitoring whether HBAR can sustain momentum and push toward $0.29 to $0.31. These short-term zones may see some profit-taking, but if HBAR surpasses these levels, the path to $0.36 becomes clearer.

This setup presents a potential bullish scenario with significant upside. However, Ali emphasizes that none of this matters unless $0.36 is breached. A clean breakout above this range could signal a shift into a new price discovery phase.

The chart's structure currently favors the bulls, but traders will be watching the volume closely. If the next move toward $0.29 or $0.36 occurs on declining volume, it could indicate weakness and suggest that the breakout might fail, with the price potentially dropping back into the $0.215 to $0.185 zone. Conversely, strong volume with green candles would reinforce the breakout and show that new buyers are entering the market, potentially leading to more aggressive targets.

This surge in HBAR's price comes at a time when the broader crypto market is showing mixed signals. Some altcoins are struggling to maintain momentum, but Hedera appears to be forging its own path. If this trend continues, it could attract investors seeking high-upside bets.

Currently, all eyes are on how HBAR behaves around this mid-range zone. If it can hold above $0.215 and build support at that level, it would provide the bulls with a solid foundation to push higher. Short-term traders may look to capitalize on moves between $0.24 and $0.29, but long-term holders will be closely watching $0.36. Breaching this level could unlock a bigger rally and potentially new yearly highs.

Ali's analysis provides a clear roadmap for Hedera. The cryptocurrency does not need to make flashy moves right now; it simply needs to continue building strength above $0.215 and let the market dynamics play out. If momentum continues, the explosive rally hinted at by Ali might not be far away. HBAR has demonstrated its ability to move quickly under the right conditions, as evidenced by the recent 23% jump. However, like any good setup, it all comes down to follow-through. Ali's chart underscores that $0.36 is the critical level. If Hedera breaks through this resistance, the rally could gain full force.