HBAR at a Crossroads: These Key Price Levels Will Make or Break Its Rally

Hedera’s native token teeters between bullish momentum and bearish reality—as usual, the charts don’t care about your ’long-term vision.’

The breakout zone: Watch the $0.15 level like a hawk. Clear that, and HBAR could sprint toward its 2024 highs. Fail, and well... enjoy the ’accumulation phase’ narrative.

Institutional irony: Enterprise adoption keeps getting name-dropped, but price action still dances to Bitcoin’s tune. Some decentralization.

Meanwhile, traders eye the $0.12 support like a banker eyes bailout terms—break that, and even the most shameless permabull might sweat.

Source: HBAR/USDT on TradingView

Hedera has confirmed a bullish market structure, surpassing the $0.194 level and solidifying an uptrend.

Bulls have also reclaimed the 50% Fibonacci retracement level, measured from the March downtrend when HBAR fell from $0.288 to $0.125.

For three consecutive days, buyers have successfully defended the $0.206 support level. However, sellers are challenging it once again.

Despite this, the OBV does not indicate strong selling pressure. Instead, it has been trending upward since mid-April and has now exceeded its March highs.

This was a sign of persistent buying pressure. Therefore, it appeared likely that HBAR would move toward $0.253, the 78.6% retracement level. If the bullish momentum of Bitcoin [BTC] and the altcoin market can continue, HBAR might register a bigger rally.

Short-term range ahead for HBAR?

Source: Coinglass

The 1-month liquidation heatmap highlighted the $0.2 and $0.23 levels as the closest magnetic zones for Hedera. These were the levels that WOULD attract prices to them, since the price is attracted to liquidity.

The $0.2 level was just above the swing high from late March, while $0.23 was slightly beyond the 61.8% Fibonacci retracement level.

Source: Coinglass

Zooming in on the 1-week liquidation heatmap, the importance of the $0.2 level was reinforced. The buildup of liquidity in this region was evident, as was the proximity of the market price.

Therefore, a move to $0.195-$0.2 was highly likely for Hedera in the near term. After a sweep of this liquidity, a bullish reversal was anticipated. Traders could look to position themselves accordingly, while also managing their risk responsibly.

This bullish reaction was likely to reach $0.23, but whether it could push higher was unclear. This presented the possibility of a range formation in the coming days.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion