Drawing up a 100% upswing over a 365-day time span, Hedera’s HBAR coin could be looking to capitalize on increased market dominance. Residing at #15 by global market cap, Hedera (HBAR) is approaching a pivotal point in terms of short-term price movement.
HBAR Price Arrives At Win-Or-Bust Level
According to Carl Moon, a popular crypto analyst with over 1.4 million followers on X and a spot on the Forbes 30 Under 30 list, much depends on the symmetrical triangle breakout, which can be perceived as a two-way street after bulls or bears gain considerable control over Hedera’s (HBAR) price.
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The symmetrical triangle on Hedera’s (HBAR) price can swing both ways, with a potential of 31% price change on both sides, explains Carl Moon. Depicted in yellow solid lines, this symmetrical triangle pattern on the hourly HBAR price charts is centered around $0.25 as the trend line.
And so, a downward break below $0.25 could push Hedera Hashgraph’s native crypto currency to $0.17, a support territory taking the altcoin’s price all the way back to December 1, 2024. This range helped HBAR bounce back twice in February, despite crypto bears, otherwise known as short-sellers, being in control for the whole month.
According to the Bull Bear Power (BBP) meter, this bearish trend started on January 27, 2025 and only faded away on March 1, 2025, even though HBAR’s price survived above $0.17 twice.
In a bull scenario, Hedera’s upswing to $0.33 would classify as the best result in a month, but still behind the double top, formed on Hedera’s (HBAR) price charts at $0.37 consecutively in December and January.
As of press time, the altcoin is trading at $0.2504, dropping by 4.5% since yesterday, as the market correction after a 35% 7-day upswing started mirroring in the candlesticks.
While crypto bulls are regaining momentum, the slightly bullish on-chain signals cannot confirm the validation of HBAR’s symmetrical triangle breakout until HBAR price closes considerably above $0.25 on the daily time frame.
On The Flipside
- The forthcoming White House Crypto Summit on March 7, 2025 could have a massive impact on the long-term perspectives of HBAR, as the meeting will be attended by HBAR network’s Strategy Board Member Brian Brooks.
Why This Matters
Hedera’s distributed ledger adoption cases and partnerships extend to major brands like IBM, LG, Boeing, Google and most recently, the SWIFT payment system.
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