Hedera (HBAR) has recently broken through the crucial $0.23 resistance level, raising interest among traders and investors. The move comes after a period of consolidation, where the price had struggled to break key resistance points, particularly following the downturn in the broader market. However, Hedera’s latest price action signals a potential continuation of its bullish trend, with key technical indicators supporting this outlook.

Hedera’s Strong Momentum and Market Structure Shift

The break above $0.23 is a significant market structure change, indicating that Hedera might be shifting into a more bullish phase. This level had acted as a strong resistance in recent weeks, and its breach now sets the stage for possible higher targets. The move followed the defense of the 61.8% Fibonacci retracement level at $0.175, which had served as a crucial support point in the previous correction.

The Chaikin Money Flow (CMF) indicator, which tracks capital inflows and outflows, has also provided a positive signal. After dipping into negative territory on February 24th, the CMF reversed course and is now sitting at +0.09, indicating substantial bullish capital inflows. This shift suggests that buying pressure is picking up, which could continue to propel Hedera higher in the near term.

Despite these positive signs, not all indicators are aligned in favor of a swift rally. The Awesome Oscillator, a tool that tracks market momentum, remains below the zero line, indicating that bearish momentum still exists, albeit at a weakened level.

Potential Price Revisit and Next Targets for HBAR

Even though the market structure is showing signs of improvement, Hedera may face resistance as it moves higher. The $0.255-$0.265 region, which acted as a strong support zone in December, is likely to present significant selling pressure on the way up. The zone failed to hold as support in January, and now it is expected to act as resistance as HBAR bulls attempt to push further upward.

Before any potential breakout, Hedera might revisit the fair value gap between $0.216 and $0.242. This region could serve as a key area for price consolidation, allowing the market to build up enough momentum for another attempt at higher levels.

Looking ahead, the next major upside targets for HBAR include $0.267, $0.284, and $0.326. These levels are likely to act as key resistance points if the bullish trend continues. However, traders should be prepared for possible dips to the $0.224 and $0.24 levels, where liquidation levels have accumulated. These dips could present buying opportunities for swing traders looking to capitalize on short-term price movements.

Social Sentiment and Market Activity

Social sentiment surrounding Hedera has shown signs of improvement in recent days. After a decline in social volume alongside the price, recent gains have reversed this trend, and social volume has started to rise again. This shift in sentiment is an important factor, as increased social activity often indicates growing interest and positive sentiment in the market.

The positive weighted sentiment, as reported by Santiment, suggests that traders and investors are becoming more optimistic about Hedera’s prospects, further supporting the idea of a continued bullish trend.

Hedera’s Path Forward

As Hedera (HBAR) continues its upward movement, the key question is whether it can maintain its bullish momentum. While the market structure has shifted in favor of the bulls, resistance at the $0.255-$0.265 range and the fair value gap at $0.216-$0.242 could slow down the price action in the short term. However, with strong capital inflows and improved social sentiment, HBAR appears to be on a bullish trajectory, with potential for further gains in the coming weeks.

For now, traders should keep a close eye on the liquidity pockets around the $0.24 region and the upside targets at $0.267, $0.284, and $0.326. These levels will be key in determining whether HBAR can continue its upward climb or if it will face further resistance in the near future.

Conclusion

Hedera (HBAR) has successfully broken past the $0.23 resistance, signaling a potential continuation of its bullish trend. While resistance at higher levels remains, the current technical indicators suggest that Hedera could revisit lower levels before pushing higher. With capital inflows and improved market sentiment, HBAR could see further gains in the near term.