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Hedera (HBAR) Bounces from Key Support – Is a Bullish Pattern Brewing?

Hedera (HBAR) Bounces from Key Support – Is a Bullish Pattern Brewing?

CoinsProbeCoinsProbe2025/04/08 15:44
By:Nilesh Hembade

Date: Tue, April 08, 2025 | 07:25 AM GMT

After facing a “Black Monday” sell-off triggered by President Donald Trump’s aggressive tariff policies, the broader cryptocurrency market is bouncing back. Bitcoin (BTC) and Ethereum (ETH) have rebounded with gains of 6% and 8% respectively, giving traders hope that the worst might be over—at least for now.

Among the altcoins, Hedera (HBAR) is making waves today with a sharp double-digit surge of over 20%, reclaiming ground lost in yesterday’s carnage. What’s more intriguing is that the technical chart setup suggests a potential bullish reversal may be in the making.

Hedera (HBAR) Bounces from Key Support – Is a Bullish Pattern Brewing? image 0 Source: Coinmarketcap

Formation of a Bullish Pattern?

On the daily chart, HBAR has staged a strong bounce from the crucial support level of $0.1248, climbing to its current price of $0.1592. This move not only reclaims the short-term downtrend but also marks the early development of a rounded bottom—a classic bullish reversal pattern.

Upon closer inspection, the structure forming on the chart resembles the “Inverted Cup and Handle” pattern, with the rounded base already forming the left half of the cup. If the momentum continues and HBAR sustains its gains above the 50-day moving average ($0.1971), the pattern could complete with a potential retest of the $0.40 neckline resistance in the coming weeks.

Hedera (HBAR) Bounces from Key Support – Is a Bullish Pattern Brewing? image 1 Hedera (HBAR) Daily Chart/Coinsprobe (Source: Tradingview)

Supporting this idea is the visual reference to a previous inverse Head and Shoulders breakout, shown on the chart inset, which often precedes bullish momentum.

What to Watch Next

While it’s still early to confirm the full bullish reversal, today’s price action is promising. For HBAR to validate this setup, bulls will need to:

  • Reclaim and consolidate above the $0.20 level (50 MA),
  • Eventually test and break through the $0.40 resistance zone for a full cup breakout.

Final Thoughts

HBAR’s recent price action stands out in a market still licking its wounds from a brutal correction. While it’s too early to declare a confirmed trend reversal, the signs are undeniably bullish. The emerging cup and handle formation, combined with the strong bounce off key support and surging volume, shows that bulls are waking up.

As always, patterns take time to mature—and fakeouts are common in volatile markets. Traders and investors should keep an eye on the $0.19 level and monitor how HBAR behaves around its moving averages.

If momentum sustains, Hedera could be gearing up for a major breakout later this quarter. Until then, patience and proper risk management are key.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research and consult a professional before making any investment decisions.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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