Hedera Hashgraph (HBAR) has broken out of a long-term descending triangle pattern, marking a bullish move on its weekly chart. The cryptocurrency surged by over 89% in just a week, moving from $0.065 low to a local high of $0.12. The breakout comes after weeks of consolidation near a critical support zone between $0.028 and $0.045.
This bullish move indicates renewed interest in the HBAR token, with the next target set at $0.18. Prominent market watchers are predicting that HBAR will outperform in the bull market, with potential targets of $0.4 and a market cap 20x to rival Solana’s. Despite a modest pullback, HBAR remains an actively traded cryptocurrency with a robust 24-hour trading volume of $858.31 million.
