HBAR jumps 7.7 percent to $0.0835 in 24 hours

HBAR surged around 7.7 percent over the past 24 hours, trading near $0.0835. According to short-term TradingView data, the price briefly hit $0.0842 before settling. This upward movement followed a period of consolidation between $0.077 and $0.079, indicating a breakout after a prolonged squeeze in a tight range.

Stronger buying after technical breakout

The price action was shaped as sellers gradually lost control within a narrowing formation. Buyers then managed to push the price above the upper trendline, reclaiming a key resistance zone. This shift brought renewed upward momentum in the short-term outlook.

A chart shared by Crypto With Gopal revealed that HBAR formed a rounded bottom after an extended downtrend from early April highs. The chart highlighted two distinct lows, with the second one forming inside a falling wedge pattern—a technical setup often signaling possible reversals.

The analysis pinpointed two possible upside targets. The first key area stands at $0.086, followed by a higher target near $0.090. Both levels coincide with former trading zones where previous recovery attempts faced heavy selling pressure.

Intraday recovery covers broad price range

BraveNewCoin data showed HBAR trading at $0.08348, with the session’s low dropping to $0.07691. This performance signaled a robust rebound from the lower end of the day’s range. The token’s market capitalization reached about $3.61 billion, while trading volume was reported at $96 million.

The data illustrated that HBAR first bounced from below $0.077, then broke past $0.079 before stabilizing around $0.080. A second wave of buying later in the session propelled HBAR above $0.082, with the close occurring near the upper range.

Indicators point to short-term positive signals

Technical indicators supported the short-term upward trend. The MACD line stood at 0.00078, remaining above its signal line at 0.00068. Meanwhile, the histogram stayed in positive territory at 0.00010, pointing to sustained bullish momentum.

The Chaikin Money Flow indicator reached 0.19, reinforcing signs of growing buying pressure.

Mini glossary: The Chaikin Money Flow combines price and volume to measure market inflows and outflows. Values above zero typically indicate stronger buying interest.

Based on TradingView data, HBAR is now approaching its first resistance area. For the rally to continue, the price needs to clear $0.085, and then target $0.088 and $0.090. On the downside, initial support is at $0.082, followed by $0.080. If the price slips below $0.079, the earlier wedge pattern may come back into play.

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