Hedera’s HBAR token shows signs of a potential breakout as daily volume and price surge, countering a weekly downtrend. Analyst Jonathan Carter highlighted a descending channel pattern on the daily chart, with price facing resistance near the upper range. Derivatives data indicates rising open interest and a higher rate of short liquidations, suggesting growing bullish pressure, though key technical indicators show the price remains below major resistance levels.
The Hedera (HBAR) token price gained 5.1%, trading at $0.08966, while its 24-hour volume rose 38.53% to approximately $114 million. However, the asset declined 5.81% over the last seven days. Analyst Jonathan Carter noted that the price is trading inside a descending channel on the daily chart.
Carter highlighted the potential breakout targets of $0.105, $0.130, $0.155, $0.205, and $0.280. The price recently faced rejection near the channel’s upper end. Futures volume increased 34.88% to about $255 million, according to data from CoinGlass.
Open interest rose 3.08% to $106 million, with an OI-weighted funding rate of 0.0077% indicating a slightly bullish market. Short liquidations totaled approximately $270,000, exceeding long liquidations of about $173,000 over 24 hours. From a technical perspective, the current price sits below the 20-day Exponential Moving Average (EMA) at $0.09180.
The 50-day EMA at $0.09589 and the 100-day EMA at $0.10667 present further resistance levels. The Bollinger Bands show tightening price action, with the lower band at $0.08542. HBAR price analysis indicates a decisive phase, with momentum rising alongside volume against strong resistance.
