Hedera (HBAR) Price Holds Higher Low, Bulls Eye a Fresh Uptrend

Key Takeaways

• Wave 4 correction completion suggests a potential bullish impulse.
• 0.382 Fibonacci resistance is a key level to reclaim.
• Wave (ii) retest sets up a possible wave (iii) rally.

Hedera (HBAR) has shown significant price fluctuations and is trading near a key Fibonacci retracement level.

The broader structure suggests a corrective phase following an impulsive wave, while lower time frames indicate the potential for a bullish breakout.

After a 47% recovery, a pullback was seen, but the price maintained a higher low above $0.20. This could be an early sign of the starting uptrend, but further confirmation is needed.

HBAR Price Analysis

HBAR completed a five-wave Elliott Wave impulse in December, peaking near $0.39 before undergoing a corrective structure labeled wave 4.

The correction unfolded in a WXY format, testing the December high before it fell to the 0.618 Fibonacci retracement level of $0.177 on Feb 3.

After a sharp decline from its previous high, the price snapped above the 0.5 Fibonacci retracement level ($0.2187). This level aligns with prior structural supports, making it a critical demand zone.

A temporary bounce suggests accumulation, but bullish confirmation requires reclaiming higher resistance levels.

The Relative Strength Index (RSI) on the 4-hour chart indicates oversold conditions, aligning with a corrective wave bottoming out.

However, price action remains below the 0.382 Fibonacci level ($0.2597), which acts as immediate resistance. A break above this could trigger further bullish momentum.

The overall trend remains bullish as long as price action holds above the 0.5 Fibonacci retracement level ($0.2187).

If support at $0.22 fails, further downside toward the 0.618 retracement level ($0.1777) could follow. However, it appears its support will hold as we have already seen some bullish signs.

HBAR Price Prediction

On the 1-hour chart, HBAR has likely completed wave (ii) of a new impulsive sequence and is setting up for a strong wave (iii) rally.

The structure suggests a textbook Elliott Wave pattern, with a higher low forming near the 0.5 Fibonacci retracement ($0.2187), reinforcing the bullish case.

If this interpretation holds, wave (iii) should extend towards the 0.236 Fibonacci level ($0.3104) as the next resistance.

A further extension could push the price toward the 0.3518 level, aligning with historical liquidity zones.

However, confirmation requires a decisive move above $0.26 (0.382 Fibonacci level), which currently acts as a short-term resistance.

The RSI on the 1-hour chart is recovering from oversold levels, suggesting an increase in bullish momentum. The price could target the 0.39 completing wave (v) if buying volume increases.

Failure to hold above $0.22 would invalidate the bullish scenario, leading to further corrective movement.

The invalidation level for the bullish wave structure sits at $0.1777, the 0.618 Fibonacci retracement.

Key Levels to Watch

• Immediate Resistance: $0.2597 (0.382 Fibonacci retracement).
• Key Resistance: $0.3104 (0.236 Fibonacci retracement).
• Major Resistance: $0.3518 (historical resistance zone).
• Immediate Support: $0.2187 (0.5 Fibonacci retracement).
• Critical Support: $0.1777 (0.618 Fibonacci retracement).
• Short-Term Target for Wave (iii): Above $0.3104 if bullish momentum sustains.
• Invalidation Zone: Below $0.1777, signaling further downside risks.