Hedera (HBAR), the native cryptocurrency of the Hedera Hashgraph network, has continued its upward trend after reclaiming a crucial support level. While investor sentiment remains largely bullish, recent technical indicators suggest that the coming days could be pivotal in determining whether HBAR can sustain its momentum or enter a period of consolidation.

Over the past three days, HBAR has experienced a slowdown in upward momentum, hovering just above the $0.206 level. Despite sellers attempting to regain control, the overall trend remains bullish. One of the strongest indicators supporting this outlook is the confirmation of a bullish market structure on the daily chart. The price recently broke above the $0.194 level, which previously acted as a resistance, signaling a shift in market direction.

Additionally, bulls have successfully reclaimed the 50% Fibonacci retracement level, which was calculated from HBAR’s March decline when the token dropped from $0.288 to $0.125. This recovery demonstrates that buyers are reasserting control over the market, attempting to reverse the earlier downtrend.

Volume indicators further support the bullish narrative. The On-Balance Volume (OBV), which measures buying and selling pressure, has been trending upward since mid-April. More importantly, it has now exceeded the levels seen in March, even as prices remain below previous highs. This indicates sustained accumulation and increased demand for HBAR, suggesting that the current uptrend could have more room to grow.

However, resistance remains ahead. The next major technical barrier is at the $0.253 mark, corresponding to the 78.6% Fibonacci retracement level. If broader market conditions remain favorable—particularly with Bitcoin and other altcoins continuing to trend higher—HBAR could make a run toward this level. But before that, price movements will likely revolve around two key liquidity zones that are currently attracting significant market attention.

Data from the 1-month liquidation heatmap highlights $0.20 and $0.23 as critical levels for HBAR. These are often referred to as “magnetic zones” because prices tend to gravitate toward areas where large amounts of leverage and trading activity are concentrated. The $0.20 level, located just above the March swing high, is particularly important as it acts as both a technical and liquidity target. Meanwhile, $0.23 sits slightly above the 61.8% Fibonacci retracement level, making it another logical target for price action.

A closer look at the 1-week liquidation heatmap reinforces the importance of the $0.20 zone. Significant liquidity has built up in this region, increasing the likelihood that HBAR may revisit this area in the short term before any potential continuation upward. Analysts suggest that a brief dip into the $0.195–$0.20 zone could trigger a liquidity sweep, followed by a bullish reversal as traders take advantage of the temporary pullback to accumulate more positions.

From a trading perspective, this setup presents both opportunities and risks. A retracement to the $0.20 zone followed by a strong bounce could allow short-term traders to position themselves for a move toward $0.23. However, if the bounce lacks strength or fails to materialize, the token could enter a consolidation phase or even reverse temporarily.

If the bullish momentum is maintained and the price climbs past $0.23 with strong volume, the next target will likely be the 78.6% Fibonacci level at $0.253. However, until a decisive breakout occurs, traders and investors should be prepared for the possibility of a range-bound movement between $0.20 and $0.23 in the near term.

In summary, Hedera (HBAR) has built a strong technical foundation, supported by sustained buying pressure and a favorable market structure. Yet, with key liquidity levels ahead, its next major move will depend on how the price reacts near $0.20 and $0.23. These levels are likely to serve as short-term battlegrounds, potentially setting the tone for HBAR’s direction in the weeks to come.