Key Takeaways

Why did HBAR see a nearly 10% move in recent days?

Its short-term momentum shift was likely the product of a market-wide sentiment shift, spurred by Bitcoin’s rally to $116k.

Can HBAR bulls sustain this momentum?

The buying pressure was weak, and needs to increase dramatically to sustain an uptrend. The price action shows that this could occur soon, but until then, traders need to be patient.

Hedera [HBAR] rallied 9% in three days, but its trading volume has been well below the recent average. Does that mean the weekend rally was an unsustainable move, or can HBAR bulls’ fortunes change?

Weekly chart keeps structure intact

The weekly timeframe showed a bullish swing structure, based on the rally in 2024. The 78.6% Fibonacci retracement level was not broken, and the low that started the rally at $0.0417 was not tested either.

Even though the internal structure turned bearish mid-year, it flipped bullish again in late June when HBAR broke above the $0.228 high and reached $0.30. Despite volatility in recent weeks, the weekly session close still preserved the bullish framework.

The RSI showed momentum was slightly in favor of the sellers, but the OBV has not fallen to new yearly lows. This meant that selling pressure was not overwhelming.

This, combined with the structural recovery, gives room for cautious optimism.

However, short-term price action painted a different picture.

The immediate HBAR price targets to keep an eye on!