HBAR, the native token of the Hedera network, has pushed above the $0.068 resistance level that had capped its price within a symmetrical triangle pattern. The token is currently trading at $0.0727, up 3.11% in the past 24 hours, according to market data.
Breakout from weeks-long pattern
The symmetrical triangle formed over the previous weeks as HBAR oscillated between converging trend lines. A breakout above the upper boundary at $0.068 signals a potential shift in direction, though the move has yet to attract significant buying pressure. The pattern itself is neutral, often resolving in the direction of the breakout, but the follow-through is key.
Momentum indicators point to caution
Despite the price gain, technical indicators suggest the breakout lacks conviction. The Moving Average Convergence Divergence (MACD) indicator is flat, indicating weak momentum and no clear bullish crossover. The Relative Strength Index (RSI) sits below 42, a reading that remains in bearish territory and suggests buyers have not fully committed. Together, these readings imply that the move may be fragile.
What could drive further upside
For HBAR to sustain its climb, traders will look for volume to confirm the breakout. A rise in the RSI above 50, combined with a positive turn in the MACD, would strengthen the case for a continued rally. Without such confirmation, the token risks slipping back below the $0.068 level, which would invalidate the breakout and potentially trigger a retest of lower support.
The next few sessions will likely determine whether the pattern holds. HBAR has oscillated between $0.06 and $0.08 since mid-March, and a decisive move beyond either boundary could set the tone for the weeks ahead.
