Hedera (HBAR) Bullish Signal Flashes: Key Metric Signals Imminent Rebound

Hedera's HBAR token is painting a classic bullish reversal pattern—just as network activity hints at renewed accumulation. Traders are circling.

Technical breakout or dead-cat bounce?

The DLT darling's token has been rangebound for weeks, but today's price action suggests whales might be positioning for a run. On-chain metrics show exchange outflows spiking—usually a precursor to upside.

Meanwhile, the 'smart money' crowd (or at least their algo traders) are quietly increasing exposure. Retail FOMO hasn't kicked in yet—which, in crypto, means there's probably still time to front-run the herd.

Cynical take? Every altcoin's 'bullish pattern' looks genius until BTC decides to sneeze. But for now, HBAR's chart is whispering sweet nothings to swing traders.

HBAR price chart points to more gains

The daily timeframe chart points to more gains in the NEAR term. First, it has formed a double-bottom pattern at $0.1260 and a neckline at $0.2298. This pattern often leads to more gains over time. The breakout is normally confirmed when the price retests the neckline, which has already happened. 

Hedera price has also formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages crossed each other on July 18. Like the double bottom, this pattern typically leads to more gains over time. 

HBAR price has also formed a bullish pennant pattern, which has a vertical line and a symmetrical triangle. A breakout happens when the two lines of the triangle pattern near their confluence. 

The bullish pennant has a height of about 58%. Measuring the same distance from the potential breakout point means that the coin will rise to $0.40, which coincides with the highest point in January this year. 

Key Hedera Hashgraph metric attempts to rebound

The HBAR price breakout will happen if a crucial Hedera Hashgraph metric continues to recover. 

DeFi Llama data shows that the stablecoin supply on Hedera plummeted from $224 million on August 1 to a low of $57 million. This was the second time this year that the metric has plummeted. In the first time, the supply dropped from $212 million on May 27 to $46 million on May 29. 

There are signs that the stablecoin supply on Hedera is recovering, as it jumped from this month’s low of $57 million to $85 million. Stablecoin supply in a layer-1 network like Hedera is a bullish sign, as it indicates high activity.

Hedera’s total value locked in the decentralized finance industry is booming. It jumped to a high of $270 million, up from the year-to-date low of $143 million.