HBAR Price Analysis: Analyst Maps Hedera Bull Cycle Target Near $0.185

However, HBAR was trading above the analyst’s $0.0670 support, but it was still beneath the crucial $0.0719 confirmation point.

Meanwhile, BraveNewCoin data indicated HBAR at $0.06838, a decline of 0.80% in the last 24 hours. TradingView displayed positive Chaikin Money Flow, while the price was contained in a narrow intraday range.

Analyst Sets $0.0719 as HBAR Daily Close

Notably, Analyst Hoca mentioned that HBAR must see a daily close above $0.0719 to confirm a breakout. The analyst has currently set immediate support at $0.0670 and invalidation at a daily close below $0.0653. Once confirmed, the target is at $0.0743, around 8% upside from the quoted $0.06856 level. The following levels are listed as $0.0840, $0.1099, $0.1389, and $0.1850.

Additionally, the trader found weekly MA20 around $0.0807, between the first two targets. The long-term setup centers around the zone of $0.177 to $0.199, where a number of techniques are said to align. Analizci Hoca notes $0.1389 and $0.1850 represent bull cycle levels that may be months away. Low ADX, lack of volume, and no obvious weekly higher low restrict affirmation.

Hedera Price Holds Near $0.0683

On one hand, according to 24 hrs market data, the price of Hedera stood at $0.06838 with a change of 0.80% in the 24 hr. The HBAR token exchanged hands between $0.06818 and $0.06963 in the above period. The market cap of the HBAR token was close to $3.00 billion, and the average volume was around $30.04 million. The circulating supply of HBAR tokens was about 43.79 billion.

At the same time, the 24-hour chart displayed HBAR climbing past $0.0692 before retaking the level. The price subsequently dropped to $0.0683 and remained in the lower half of the daily range. Attempts at bouncing back were made, but the price failed to match the session high. HBAR was down 87.99% from the $0.57 record high.

Positive CMF Meets Weak Price Momentum

On the other hand, at the latest reading on the 1-minute chart, HBAR/USDT was trading close to $0.06835 on Binance. Price action drifted in a fairly tight range around $0.0683 and $0.0690 throughout the session. Chaikin Money Flow was 0.11, which was above zero. CMF was positive, meaning more buying pressure than selling pressure was present during the period.

Furthermore, HBAR volume rose toward the late session as HBAR tested intraday lows. Price recovered a little but failed to close back over prior highs near $0.0688-$0.0690. Even so, the chart displayed several intraday buy and sell signals based on Bollinger calculations. The analyst’s short-term chart structure keeps $0.0670 as support and $0.0719 as confirmation.