![Will Hedera’s [HBAR] 20% hike be enough to push it past its trading range?](https://i.headtopics.com/images/2025/1/16/cryptoamb/will-hedera-s-hbar-20-hike-be-enough-to-push-it-pa-will-hedera-s-hbar-20-hike-be-enough-to-push-it-pa-B2217364415AE3774202F125F15CD48C.webp)
HBAR has formed a range since December and the lower timeframe charts revealed that a price move to $0.337 was likely in the near-term...
Over the past month, Hedera has been trading within a range. The range extremes lay at $0.255 and $0.339, with the mid-range level at $0.297.pattern on the 4-hour timeframe. A bullish breakout and a move to $0.42 can be expected, but this did not materialize. Instead, the $0.32 resistance proved to be a challenge too big for the bulls to overcome.Over the past month, Hedera has been trading within a range. The range extremes lay at $0.255 and $0.339, with the mid-range level at $0.297.
The daily RSI remained above neutral 50 despite the range formation – A sign that bullish momentum has the upper hand. And yet, this momentum is likely to be short-lived. Until traders witness a breakout backed by high volume, it would be better to treat the range as such and take swing trading positions accordingly.The 4-hour chart illustrated the challenges ahead more clearly. Under the $0.344 range high resistance, the $0.32-$0.324 area offered resistance.
Despite the nearly 20% hike from its lows, the CMF did not show sizeable capital inflows. In fact, the MACD has hovered around the neutral zero-mark in recent weeks, but it formed a bullish crossover to indicate upward momentum. Additionally, the DMI suggested a strong uptrend was beginning on the 4-hour chart.The liquidation heatmap highlighted the potential for a short-term bearish reversal from $0.337. The build-up of liquidity around the $0.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinionAkashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.
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