HBAR Price Rises 29% and Breaks Long-Term Resistance Near $0.086

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HBAR
$0.08972-7.35%
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HBAR broke through a key resistance level near $0.086, rising 29% to $0.097. The price is now above its 200-day average, with $0.10 as the next target. A sustained move past this level could shift the fear and greed index toward bullish sentiment. If HBAR fails to hold above $0.086, traders may see a pullback.

Hedera’s HBAR has climbed almost 29% from its recent low, carrying the price to approximately $0.097.

The rally has also pushed HBAR above a barrier that has been there for a long time near the $0.086 price level. If buyers want the recovery to continue, they must now overcome the $0.10 price area.

HBAR clears months-long resistance

HBAR got to as high as $0.099 earlier on before falling back slightly. Its high point is within reaching distance of the $0.10 price level, a level which it has not closed above in months.

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Trading activity was higher than the previous day with the move. The most recent daily volume was higher than the levels experienced by most days between August and early September.

A price rise on stronger volume indicates that more buyers may be participating. If there was a rally, and the activity was weak, the price trend might not matter a lot.

It is now above its 200-day average. This lies around the $0.086 level and reflects its bigger move since the last few months; this was also acting as a ceiling earlier for its movement.

Hbar price trend chart
Source: TradingView

​Moving above it may not bring new gains, but holding there would mean that the increase seen up to that point was more than just a passing trend.

The shorter-term averages are now below HBAR’s price as well. What this means is that it is trading above both its recent and longer-term reference points.

Can HBAR price clear $0.10?

The next target is the $0.10 level. HBAR nearly got there during the current session seen, as of this writing, but stopped at around the $0.099 price level.

With a strong daily close above $0.10, the bulls could attempt the early June area at the $0.109 – $0.11 levels again. That region saw a lot of selling and may do so again.

If it is not able to clear the $0.10 level could bring a pause after the rapid advance it witnessed.

$0.09 is the first important level to watch from any rejection. Below is the prior key reversal around the $0.086 level that could be important in demonstrating who holds control – buyers or sellers.

A fall below the $0.086 price level would unwind the breakout and raise the possibility that HBAR had moved too far too quickly.

Final Summary

  • HBAR is up about 29% and is now above its long term price average at $0.086.
  • The altcoin needs to clear the psychologically important $0.10 resistance level to make a case to reach $0.11 before any corrections.

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