How Will HBAR Perform in September? | Credit: Veronica Cestari
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Key Takeaways
Hedera (HBAR) has created a head and shoulders pattern.
The HBAR is likely in wave C of an A-B-C correction.
Can Hedera reach a new all-time high price this year?
Hedera (HBAR) has recently formed a bearish head-and-shoulders pattern, signaling caution.
After rallying strongly in June and peaking at $0.299 in July, momentum has since stalled, and technical indicators have turned bearish.
With bearish price action and indicator readings, the HBAR price appears to be due for a short-term correction.
Hedera Price Analysis
The HBAR price rallied in June, reaching a high of $0.299 on July 18.
While it reached a slightly higher high the following week, its momentum has stalled since then.
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If wave C has the same length as wave A, the HBAR price correction will end at $).198, aligning with the 0.618 Fibonacci retracement support from the previous chart.
If wave C extends to 1.61 times the length of wave A, the HBAR price will reach a low of $0.150, targeting the long-term support level.
So, we determined that a short-term breakdown is the most likely outlook. Let’s look at the long-term readings to see if there is any hope for the bulls.
Long-Term HBAR Prediction
Hedera’s price has likely begun a 1-2/1-2 wave structure (green and black).
If this is the case, an explosive breakout is likely once the formation is complete.
After the second correction is complete, HBAR will likely begin an explosive rally, confirmed with a breakout above the long-term resistance at $0.265.
This movement could also lift the price above the four-year descending resistance trend line that has existed since the all-time high.
If that happens, a new Hedera all-time high could happen in 2025.
Dump Before Pump
HBAR is likely to break down in the short term, with price targets ranging between $0.198 and $0.150.
However, long-term charts still suggest that Hedera may form a powerful 1-2/1-2 wave structure, paving the way for an explosive rally once the correction completes.
A breakout above $0.265 could trigger a new Hedera all-time high in 2025 if confirmed.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
