Key Takeaways
- WXY correction likely ended in a descending wedge.
- Price testing key 0.618 Fib resistance on the daily chart.
- Intraday count shows wave 5 nearing exhaustion.
Hedera (HBAR) is showing signs of concluding a long-term corrective phase.
Both daily and intraday structures suggest a potential trend reversal may be forming.
This analysis evaluates key patterns and support zones to determine whether a new bullish cycle will likely begin.
HBAR Price Analysis
The daily chart shows that HBAR experienced a significant rally to a high near $0.387 in December 2024 before entering a prolonged WXY corrective phase.
Although the following recovery was corrective, it retested the $0.40 area, forming a double top and sending HBAR downward.
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The correction concluded with wave (Y) on April 7 at a low of $0.125.
It formed a descending wedge — a structure often associated with bullish reversals.
This recent breakout from the wedge, followed by retests of the $0.1749 (0.618 Fib), reinforces the possibility of a trend shift.
Since then, the price has been in a downtrend, losing 12% since its recent high, but this could be a pullback before more upside ahead.
The Relative Strength Index (RSI) on the daily chart has exited oversold territory but hasn’t reached overbought, suggesting there’s room for upward movement.
Despite the recent breakout, the price must hold above its low to confirm the bullish outlook.
A daily close above the 0.618 Fib retracement would mark a significant milestone for continuation.
However, failing to hold above the $0.14 area would doubt the bullish thesis.
In that case, there could still be a chance that the correction has one more leg down.
HBAR Price Prediction
The 1-hour chart reveals a completed five-wave impulse to a high of $0.175 (0.618 Fib), likely followed by an ABC correction.
The current structure forms a five-wave downward move, interpreted as wave C’s final leg.
HBAR is close to a potential pivot near $0.1437 — a key horizontal support aligned with the descending trendline.
Wave 5 is projected to bottom near $0.1437–$0.1450, where the RSI is approaching oversold.
If this bottom holds, a new impulsive move could start, targeting the $0.1749–$0.2155 area. This would align with wave 3 or C of a broader reversal.
The bullish scenario assumes wave (ii) ends soon, followed by an impulsive wave (iii) toward $0.2155.
However, if $0.1437 breaks, the structure could extend lower toward $0.1173 (0.786 Fib daily).
Volume confirmation and a strong rebound from current levels are crucial for confirming wave reversal.
Key Levels to Watch
- Major Support: $0.1437 (horizontal support), $0.1173 (0.786 Fib retracement).
- Immediate Resistance: $0.1749 (0.618 Fib), $0.2155 (0.5 Fib).
- Breakout Confirmation: Break and close above $0.2155 with volume.
- Invalidation Level: Sustained move below $0.1437.
- Fractal Watch Zone: $0.215–$0.255 (potential wave 3 target).
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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