Hedera Hashgraph (HBAR) is exhibiting signs of a potential trend reversal, according to technical analysis. The token’s price chart is forming an inverse head-and-shoulders pattern following a sell-off, with a critical neckline between $0.094 and $0.096. A breakout above this level could target $0.12. However, current momentum indicators show persistent selling pressure, and the token trades below key moving averages, suggesting caution is warranted until a clear breakout is confirmed.
The cryptocurrency Hedera Hashgraph (HBAR) is showing early signs of a possible trend reversal after a period of selling pressure. An analyst posting on X noted the token appears to be forming an inverse head-and-shoulders pattern on its 4-hour chart, a classic technical indicator.
A breakout above the identified neckline between $0.094 and $0.096 could open the door to a move toward $0.12. The analyst stated that one “should wait for confirmation before making any assumptions.” At the time of writing, HBAR was trading at $0.08875, according to CoinMarketCap data, with a market capitalization of $3.84 billion.
Despite the potential reversal pattern, technical indicators currently point to short-term weakness. The token’s price remains below all its major simple moving averages, including the 200-day average at $0.11071, confirming a bearish setup.
Momentum readings further support a cautious stance. The Moving Average Convergence Divergence (MACD) indicator remains in negative territory, signaling that selling pressure is still in control. The Relative Strength Index (RSI) is near oversold levels but also indicates limited buying momentum.
Hedera Hashgraph now finds itself at a critical technical juncture. The development of the potential reversal pattern has drawn investor attention to the key resistance zone. The token’s near-term trend will likely be determined by its ability to break above or fall from its current levels.
