HBAR Price Recovers After Trendline Bounce as Bulls Target Higher High

After rejecting the trendline, the HBAR price started a recovery, and bulls look for a higher high.Notably, after a downward trend for several weeks, the HBAR price started a rally from the previously imposed descending trendline, and buyers are looking for opportunities to create higher highs.

Market capitalization remains approximately $3.06 billion, with daily trading volumes above $43 million.

However, as an analysis shared by Inca Investments on X suggests, HBAR is responding to key support areas, above the short-term trendline where the price was moving down for some time. If buyers succeed in achieving a higher high, the bulls could enter the market in large numbers.

HBAR Price Breaks Above Short-Term Resistance

Meanwhile, the HBAR price broke the short-term resistance, and bulls want higher, higher. Inca Investments’ chart shows that HBAR is finally moving away from the active downtrend for several weeks and is now trying to create a higher high on the chart to be able to go further up.

A break of the descending resistance is a good signal for HBAR’s short-term price structure, although this move isn’t yet confirmation of a strong recovery, and buyers now need to muster enough buying power to create a higher high.

According to Inca Investments‘ analysis, breaking the current local highs will lead to a potential further increase, while a strong rejection will drive the token back toward previous support areas.

HBAR market data shows that it is close to $0.07 after a volatility session; it had a high of $0.07267 today.

TradingView Signals Early Momentum Recovery

TradingView on the daily chart suggests that HBAR is caught inside a downward trend; it has been slowly decreasing from values above $0.20 and is still under key levels that were active some time ago.

However, buying volume can increase and is expected to go further up; RSI has a value close to 47.96, which is above the signal line with a value around 40.93. The MACD indicator is under the zero line, but the histogram looks stronger than in the previous weeks.

Indicators that are showing a recovery may increase even further after bulls manage to keep buying pressure and build a higher high.

HBAR Market Structure for Recovery Test

HBAR’s chart shows a trend change after a prolonged bear market trend; it seems that buyers successfully protected lower price levels. However, HBAR is still facing several strong resistance points to confirm a new uptrend.

According to BraveNewCoin market data, it seems that the descending trendline has confirmed the last bounce, but we are still far from the all-time high that HBAR achieved in Sep 2021, when the value was $0.57 (87% more than today’s price), and it will need to show a much higher demand level before it reaches those old prices.

Volume remains a key indicator for potential continuation, and traders are looking for higher-high confirmation.