Hedera (HBAR) Breaks Out of Wedge Pattern, Targets $2.00 Amid Institutional Demand

Hedera's HBAR token has surged past critical resistance levels following a breakout from a multi-month falling wedge pattern, with analysts now eyeing a $2.00 price target. The bullish momentum is fueled by robust trading volume and growing institutional interest, indicating a potential trend reversal.

The weekly chart reveals a decisive breakout above $0.25, followed by consecutive green candles that overcame historical barriers at $0.35 and $0.50. The absence of upper wicks suggests limited selling pressure, further supporting the bullish outlook.

On the daily timeframe, HBAR climbed 9.03% to $0.26, showcasing steady upward momentum with low volatility. Traders are monitoring for a sustained push toward the psychological resistance at $2.00 as buying activity escalates.