Hedera (HBAR) Eyes 98% Gain on Triple Bottom Breakout
Hedera price has rebounded 9% in 24 hours as HBAR futures open interest climbs 13% and the long/short ratio nears parity, signaling growing bullish sentiment. HBAR has been in a downtrend since July, falling 51% from its peak amid slowing on-chain activity, underperforming ETF inflows compared to Solana, and a DeFi TVL drop to $157.9 million. Technical analysis reveals a descending channel on the daily chart, now poised for a breakout above the upper trendline. A triple bottom pattern around $0.123 with a neckline at $0.228 sets a potential 98% upside target. Momentum indicators—an imminent MACD bullish crossover and an RSI recovery from oversold—support a reversal scenario. A fall below $0.123 would invalidate the setup.
Bullish
The article highlights multiple bullish technical signals for Hedera price. Rising HBAR futures open interest and a long/short ratio near 1 indicate growing trader confidence. The formation of a triple bottom at $0.123 with a $0.228 neckline suggests a classic reversal pattern targeting a 98% gain, while a descending channel breakout further reinforces upside potential. Momentum indicators—an imminent MACD crossover and RSI bounce from oversold—mirror historical breakouts seen in other altcoins. Short-term, traders may increase long positions around key support levels. Long-term, a confirmed breakout could shift market sentiment and attract renewed capital into HBAR. Only a drop below $0.123 would negate the bullish setup, making that level critical.