Hedera (HBAR) is trading at $0.09591, down 1.76% as it tests the upper resistance of a multi-month descending channel. Technical analyst Jonathan Carter outlined potential price targets up to $0.280 if a breakout occurs, while derivatives data shows falling volume and mixed sentiment among traders.
The price of Hedera (HBAR) is approaching a key technical decision point as it tests a descending channel’s upper boundary. Analyst Jonathan Carter highlighted this pattern, stating the asset is *”nearing a possible descending channel breakout on the daily time scale.”*
Carter has identified several upside targets if a successful breakout is sustained, ranging from $0.105 to $0.280. Current market indicators, however, show weak momentum, with the daily RSI at 46.02 and the MACD indicating slight bearish pressure.
According to CoinGlass data, HBAR’s futures volume has dropped 16% to $116.16 million, while open interest has slightly increased. The OI-weighted funding rate is negative at -0.0137%, indicating short traders are paying funding fees to longs.
Total liquidations over 24 hours were minimal at $48.60K, with long positions accounting for $41.42K of that amount. The technical setup suggests the market is at an inflection point, awaiting a clear directional signal from the channel test.
