HBAR Price Shows Signs of Trend Reversal as Bull Flag Forms
The HBAR price is exhibiting early signs of a potential trend reversal, with a bull flag forming above key support at $0.12, supported by renewed volume and a developing shift in market structure. This development is significant, as it suggests a possible move away from the longer-term selling pressure that has characterized the asset’s price action in recent weeks.
The growing market participation and increasing upside volume indicate improving sentiment around HBAR. The current consolidation could serve as the basis for a broader recovery, with the asset potentially targeting higher-value areas. The recent momentum was also reinforced by new ETF inflows and support from Google BigQuery, which has contributed to the improved sentiment around the asset.
The Main Technical Points of the HBAR Price
HBAR has rebounded from key daily support at $0.12, showing strong upside volume in the process. The price is consolidating within a developing bull flag structure, which is a pattern commonly associated with continuation moves after an impulsive rally. A bullish breakout could target the control point before testing the high-time frame resistance at $0.24.
HBARUSDT (6H) chart, source: TradingView
The HBAR’s bounce from the $0.12 region is not a coincidence, but rather a direct result of a key high-time frame support level that has triggered strong reactions in the past. The recent rally was supported by a significant increase in bullish volume, which is one of the first signs of a possible change in character within the overall market structure.
Technical Perspective and Potential Price Development
From a technical perspective, HBAR is currently at an inflection point. The bullish flag structure and renewed buying pressure suggest a reversal phase may be forming, but confirmation requires a breakout with volume and a subsequent higher high. If HBAR breaks out of the bull flag with strong volume, a rally towards the control point and ultimately resistance on the upper time frame at $0.24 becomes likely.
Failure to maintain the $0.12 value would weaken the reversal situation and put the asset back in a bearish state. As the market continues to evolve, it is essential to monitor the price action and volume to determine the direction of the trend. For more information and updates on the HBAR price, visit https://crypto.news/hbar-price-forms-bull-flag-momentum-turning-upward/
