Hedera HBAR Technical Analysis Points to Potential Breakout as Bullish Pattern Forms

Hedera Hashgraph's native token HBAR is gaining trader attention as it consolidates within a tight trading range, currently priced at $0.2400. This represents an 80% recovery from yearly lows while remaining 23% below its 2024 peak of $0.3050. The cryptocurrency has developed a classic bullish flag formation on daily charts, a pattern that typically precedes continuation rallies when the upper boundary is breached.

Technical indicators support optimistic projections: HBAR maintains its position above both the 100-day Exponential Moving Average and the Ichimoku cloud while completing a break-and-retest sequence at crucial support levels. Market analysts observe that the emerging second wave in an Elliott Wave cycle could drive prices toward the $0.40 resistance zone if current momentum persists.