HBAR price rebounds from trendline, bulls aim for higher high after 87% fall from peak

Hedera Hashgraph (HBAR) is showing signs of recovery after several weeks of downward movement, as its price bounces off a key descending trendline. With a market capitalization of around $3.06 billion and daily trading volumes exceeding $43 million, buyers have begun to show renewed interest following recent technical developments.

HBAR targets higher high after trend reversal

Market analysts observed that HBAR rallied from the previously established descending trendline, offering hope that the cryptocurrency will form new higher highs. Inca Investments, an asset management firm, reported on X that HBAR is now trading above this short-term trendline after persistent downward pressure. According to Inca Investments, if buyers successfully push the price higher, further bullish momentum could materialize.

This positive sentiment follows a decisive break above the short-term descending resistance. Inca Investments’ chart analysis suggests that HBAR is attempting to create a higher high and move away from its prolonged downtrend.

A breakout from the descending resistance is regarded as a constructive signal for HBAR’s short-term technical outlook. Still, analysts believe that the move requires confirmation through sustained buying activity to establish a genuine recovery and further price advances.

Inca Investments analysis highlights that taking out current local highs may drive another upward move, while a failure could send HBAR back to previous support zones.

Currently, HBAR trades near $0.07 following a recent period of volatility. The token hit an intraday high of $0.07267, showing renewed efforts by buyers to regain control.

Key technical indicators point to potential recovery

Analysis of TradingView data on the daily chart reveals that HBAR remains under the influence of a broader downward trend, having steadily declined from earlier values above $0.20. The token is yet to reclaim significant resistance levels established in the past.

Despite this, market activity indicates the potential for increased buying volume. The Relative Strength Index (RSI) currently stands near 47.96, above the signal line at 40.93, signaling mild positive momentum. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is still below zero, although the histogram suggests improving conditions compared to previous weeks.

Should buying pressure persist and drive a higher high, these indicators may continue to strengthen, adding confidence to the recovery narrative.

Mini dictionary: MACD (Moving Average Convergence Divergence), a technical analysis indicator used to gauge momentum and trend direction by measuring the relationship between two moving averages.

Market structure and resistance challenges

HBAR’s recent bounce suggests a possible shift in trend after a prolonged decline, as buyers defend key price levels. However, the token faces several layers of resistance before a sustained uptrend can be validated.

BraveNewCoin market data confirms that the latest price reaction at the descending trendline could set the stage for further recovery, but HBAR remains far below its September 2021 all-time high of $0.57. The current price is 87% lower than that peak, underscoring the need for a significant increase in demand if HBAR hopes to revisit previous highs.

Volume trends will continue to play a central role in determining whether the positive momentum endures and buyers can confirm a higher-high formation.