Hedera's HBAR climbed 5.05% in 24 hours to $0.07317, putting $156.38 million in daily volume behind it and pushing its market cap to $3.20 billion. The move came after the token cleared a local horizontal resistance level that had capped price action for several weeks of sideways drift.
Old ceiling becomes a floor
Crypto analyst Alpha Crypto Signal flagged the setup on July 23: HBAR had converted that resistance band into a support zone, a pattern technicians tend to read as buyers actively defending territory they previously struggled to take. Alpha Crypto's read is straightforward. While HBAR holds above the reclaimed support, the near-term lean stays bullish. Lose it, and the recovery thesis needs revisiting.
On the Bollinger Band chart the picture backs that up. Price at $0.07317 sits well above the mid-band at $0.06965 and is pushing toward the upper band at $0.07616, with the lower band anchored at $0.06314. That spread implies buyers are gradually pressing into the resistance zone. A clean close above the upper band would be a fresh bullish signal, though some short-covering pressure around those levels is a realistic expectation too.
MACD confirms momentum shift
The MACD has printed a bullish crossover: the MACD line sits at -0.00132 while the signal line is at -0.00229, with the histogram reading 0.00097. Both lines remain below zero, so this is an early-stage signal rather than a full-throated confirmation. What it does show is that selling pressure is easing. Bulls will want to see new higher highs and higher lows to treat the recovery as established rather than tentative.
The immediate test is $0.076, roughly where the upper Bollinger Band and the prior resistance converge. A decisive push through that level could pull in fresh buyers and extend the move. Failure to hold the reclaimed support zone, on the other hand, would reopen the question of whether the breakout was genuine or a false start after weeks of indecision.
Spot desks showed a quiet uptick in bid depth through the Asian session.
This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any asset.
