HBAR Price Forms Double Bottom at $0.10, Indicating Momentum Shift

HBAR price has recently created a double bottom pattern near the $0.10–$0.11 range, suggesting a reduction in selling pressure and a potential change in market momentum.

Key Takeaways

Double Bottom Formation: HBAR has established a double bottom pattern at the $0.10–$0.11 support level, indicating weak selling and potential reversal.
Market Conditions: While the overall market remains bearish, the selling momentum for HBAR is diminishing.
Volume Levels: A key focus is on whether HBAR can regain nearby volume levels to support a longer rally.
Bullish Potential: If HBAR can maintain its position above $0.10–$0.11 and cover critical volume areas, it could indicate a significant bullish trend shift.
Upside Targets: A successful rally could target resistance around $0.23, marking an important price level.

HBAR price bullish formation indicated reversal

Understanding HBAR's Price Action

HBAR price prints double bottom at $0.10, signaling momentum shift - 1

The recent double bottom formation observed in HBAR's price is a noteworthy technical development, especially since it has occurred at a well-established support level. Initially, the price dropped to the $0.10–$0.11 area, bounced back, and has since tested this area again, finding support on the second attempt. The amount of selling pressure that could push prices lower is notably weak.

Double bottom patterns are frequently interpreted as signals of trend reversals, particularly after extended periods of declining prices. They reflect a growing willingness among buyers to step in at specific price points, forming a base for potential upward movement. For HBAR, this base has provided the groundwork for an upward movement towards higher trading volumes.

After this double bottom formed, HBAR has risen to a volume-based resistance level known as the value-area low. This level often acts as a critical decision point, influencing whether the current upward movement is a brief bounce or the initiation of a more substantial trend reversal.

Gaining acceptance and closing daily above the value area low would signify that the price is no longer trading at a discount, and it would indicate increasing buyer control. Historically, retaking this level can lead to a continuation towards the point of control, where the highest trading volumes have previously occurred.

Despite improving momentum, HBAR's larger trend remains bearish, marked by a series of lower highs and lower lows. Nevertheless, the double bottom pattern creates the right conditions for a potential shift in this trend. If HBAR continues to advance and starts setting higher lows, it would indicate the beginning of a trend reversal.

Successfully reclaiming key volume levels would heighten the chances of HBAR transitioning into a bullish structure, opening pathways for consecutive higher highs. This would further suggest that the momentum shift is not just a temporary reaction but could be structural.

If HBAR confirms this structural shift, the next significant upside target is expected near $0.23, which has historically served as a powerful rejection zone and aligns with the upper limits of HBAR's broader trading range.

Achieving a rise towards $0.23 would signify a complete range expansion from the double-bottom structure, aligning with typical market behavior following lengthy accumulation at support. The robustness of this move into resistance will play a key role in determining whether HBAR can maintain its gains or fall back into consolidation.

Future Price Outlook

As long as HBAR remains above the $0.10–$0.11 support range, the technical perspective leans towards further upward potential. The immediate priority is to reclaim and sustain positions above the value area low, confirming bullish momentum and increasing the likelihood of a changing market structure.