The price of Hedera’s HBAR token is testing a critical technical level, potentially signaling a shift in its recent downtrend. According to an analyst, the token is pressing against the upper resistance of a descending channel, a formation that has confined recent trading. Market participants are watching for a confirmed breakout, which could introduce fresh speculative interest and alter the short-term market structure toward specific higher price targets.
According to crypto analyst Profit Demon, Hedera‘s HBAR is testing the upper resistance of a descending channel this week. This formation has shaped recent trading behavior, and such structures often signal trend continuation, yet proximity to resistance raises speculation about a momentum shift.
Market participants appear to be positioning cautiously as volatility compresses near the channel’s boundary. “Traders frequently interpret this type of setup as a decision point between continuation and reversal,” one report noted.
A confirmed breakout above the descending structure would indicate weakening selling pressure. This could potentially alter the short-term market structure while inviting fresh speculative interest inflows.
If bullish momentum is established, analysts cite several key reaction levels. Commonly mentioned price targets include $0.130, $0.160, $0.185, $0.210, and $0.255 according to the assessment.
However, Profit Demon reminded investors that the current resistance zones are expected to spark another wave of selling pressure. Failure to break through might continue the current downtrend as the price approaches a critical point.
Technical data from TradingView shows HBAR trading at approximately $0.097 as of this week, below all major weekly exponential moving averages. This positioning supports the view that a broader downtrend remains in effect, despite the current test of resistance.
