HBAR has extended its upward momentum after moving past a key resistance, with technical signals pointing to increased buying activity. The cryptocurrency now holds above a crucial support zone, which is viewed by market observers as a sign that recent gains may continue in the short term.
Price performance and trading metrics
HBAR, the native token of the Hedera network, is currently priced at $0.07317, reflecting a 5.05% increase over the last 24 hours. The asset has registered a daily trading volume of $156.38 million and boasts a market capitalization of $3.20 billion, indicating a resurgence in trading interest among investors.
Crypto analyst Alpha Crypto Signal noted that HBAR managed to flip a local horizontal resistance into a support area on July 23. According to Alpha Crypto, holding above this newly established support could keep the short-term trend tilted in favor of buyers, while a drop below it might undermine bullish momentum.
Alpha Crypto Signal emphasized that as long as HBAR trades above the regained support, buyers are likely to remain active, potentially fostering further upside in the near term.
Technical outlook: Bollinger Bands and MACD
From a technical perspective, HBAR is trading above the mid Bollinger Band, which sits around $0.06965. The token is approaching the upper Bollinger Band at $0.07616, while the lower band lies at $0.06314. This configuration suggests that sustained buying pressure could encourage a move toward the resistance zone near the upper band, but profit-taking could occur if prices extend too quickly.
Mini dictionary: Bollinger Bands, a technical analysis tool, consist of three lines—an upper, a middle (moving average), and a lower band—that help traders gauge price volatility and possible support/resistance levels.
The MACD (Moving Average Convergence Divergence) indicator has produced a bullish crossover, as the MACD line has climbed above the signal line to reach -0.00132, compared with the signal line at -0.00229. The MACD histogram now stands at 0.00097, reflecting growing buying momentum. Despite both lines remaining below the zero threshold, early signs hint that selling strength from bears is easing.
Mini dictionary: MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price and can signal potential buy or sell opportunities.
| Metric | Current Value |
|---|---|
| HBAR price | $0.07317 |
| Daily trading volume | $156.38 million |
| Market capitalization | $3.20 billion |
| Upper Bollinger Band | $0.07616 |
| Middle Bollinger Band | $0.06965 |
| Lower Bollinger Band | $0.06314 |
Key support and resistance levels
The immediate focus for market participants is whether HBAR can retain its position above the reclaimed support zone while facing resistance around the $0.076 area. A clear move above this resistance may strengthen the bullish outlook and attract additional buyers. In contrast, failure to hold the support could lead to a retracement toward the middle Bollinger Band, potentially weakening the current structure.
While technical indicators suggest that sellers have lost short-term control, trading activity in the coming sessions will determine if HBAR can convert this breakout into sustained growth.
