Hedera's HBAR has been in a consolidation phase, bound between $0.33 and $0.25. Despite the price stagnation, traders expect a bullish breakout. Traders have poured $144 million into HBAR's open interest, raising it to $344 million, signaling confidence in an upcoming surge.
Market optimism is further strengthened by technical indicators like the MACD, which signals a potential bullish crossover. This aligns with rising open interest and positive funding rates, suggesting a shift in sentiment toward bullishness.
A successful breakout could propel HBAR to $0.39, with $0.33 as a crucial resistance level to flip into support. Failing to do so could prolong consolidation and trigger selling pressure.
A scenario where $0.25 support is breached would nullify bullish prospects, causing further price declines and waning investor confidence.
