HBAR News: Bulls Target $0.40 After Wedge Breakout

In a recent post, an analyst highlighted that the memecoin has broken out of a falling wedge pattern, a structure often linked with bullish reversals.

This shift in technical structure suggests that sentiment is turning positive, with buyers gradually taking control and preparing for a move toward higher levels.

The two-day chart shows HBAR decisively breaching a resistance trendline that had been in place since mid-August. This wedge breakout marks the end of prolonged sideways action and positions the token for a push higher. According to Steph, Crypto, the $0.24 zone now acts as a key pivot level, and holding above it will be crucial in confirming the strength of this breakout.

Source: X

The pattern projects a potential rally toward the $0.40 region, a level not seen since early 2022. Such a move would represent significant upside from current prices and reinforce the coin’s position as one of the altcoins to watch this month. Still, analysts caution that maintaining support above $0.22 will be essential to avoid a pullback that could stall momentum.

Steph is Crypto described the move as “in full force,” noting that falling wedge breakouts often attract additional trading volume. If momentum continues to build, the setup could open the door for the token to extend its bullish trajectory and reclaim higher ranges within its long-term structure.

At the time of writing, the token trades at $0.24, up 2.35% over the past 24 hours, according to BraveNewCoin. With a market capitalization of $10.17 billion, Hedera ranks firmly among the top 25 cryptocurrencies, reflecting its growing role in the digital asset ecosystem. Trading volume of $267 million in 24 hours underscores heightened market participation, suggesting that traders are responding positively to the breakout.

Source: BraveNewCoin

The available supply of 42.39 billion tokens ensures strong liquidity, while the recent stability around $0.24 points to accumulation by market participants. This base-building process often precedes larger upward moves, particularly when accompanied by steady volume inflows.

Additionally, Hedera’s chart reflects a recent rebound from a moderate downtrend, with price now hovering around $0.23940 after pulling back from a late-July high of $0.30500. The broader range between $0.125 and $0.305 suggests that consolidation remains in play, but the breakout hints at a possible shift toward bullish continuation.

Source: TradingView

The Chaikin Money Flow (CMF) currently sits at -0.10, signaling cautious capital flows and mild selling pressure despite the recent price bounce. This suggests buyers will need to step up to sustain the breakout.

Meanwhile, the MACD indicator is showing early bullish signals, with the histogram turning positive (0.00270) as the MACD line crosses above the signal line. Though both remain slightly negative, this crossover could mark the start of renewed upward momentum.