Hedera’s HBAR token is currently mirroring its 2021 price patterns and technical indicators, according to analysis from Rekt Capital. The cryptocurrency has retraced to a key support zone after becoming significantly overbought on momentum indicators, aligning with historical tendencies.
HBAR’s Critical Support Zone and Resistance Levels
Rekt Capital’s analysis highlights a pivotal support zone between $0.16–$0.22, which historically acted as a reversal point. Key observations:
- Local Red Area: A technical level HBAR briefly lost last week but is now attempting to reclaim.
- Pennant Breakout: A downward-sloping resistance breakout suggests potential upward momentum.
- Upper Resistance: The red-boxed area on the chart (similar to 2021) must be overcome for sustained growth.
👉 Explore HBAR’s latest price trends
RSI Signals and Momentum Confirmation
The Relative Strength Index (RSI) shows striking parallels to 2021:
- Overbought to Reversal: RSI dropped from "tremendously overbought" (orange box) to 46—a historic reversal level.
- Downtrend Breakout: A break above the multi-month RSI downtrend line would confirm bullish momentum.
For a confirmed reversal, HBAR must:
- Hold the red support area.
- Break the RSI’s green downtrend resistance.
Bullish HBAR Price Forecasts
Other analysts amplify optimism:
- Froggy: Identifies emerging buying interest at former support-turned-resistance.
- Gilmore Estates: Projects a 600% surge to $1.23 using Elliott Wave theory, citing Wave (5) initiation.
FAQs
Q: What’s HBAR’s key support level?
A: $0.16–$0.22, per Rekt Capital’s analysis.
Q: How does the RSI indicate a potential reversal?
A: A breakout above the RSI downtrend line (green) would signal shifting momentum.
Q: What’s the upside target if HBAR holds support?
A: Initial target: $0.2**; long-term (per Gilmore Estates): **$1.23.
👉 Dive deeper into HBAR’s technicals
Disclaimer
This content is for informational purposes only and not financial advice. Crypto investments carry risks, and predictions may change.
Authored by a seasoned crypto journalist with 6.5+ years in Web3 and blockchain analysis.
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