Crypto analyst JD recently suggested on social media platform X that Hedera (HBAR) might be forming an Ascending Triangle pattern rather than a Symmetrical Triangle. Both patterns are typically indicative of a bullish breakout. JD’s analysis highlights a significant opportunity for investors, especially as the market anticipates a potential altseason. However, he cautions traders to secure profits, warning that 95% of traders might face losses if they fail to do so.
The overall trend for HBAR’s market cap has been noteworthy. Starting below $1 billion in early 2020, it surged to around $8 billion in mid-2021 before declining and stabilizing between $1 billion and $4 billion by 2022. JD’s chart shows a four-year trendline providing consistent support, indicating a long-term upward trajectory despite recent volatility.
A horizontal resistance level of approximately $8 billion has proven to be a significant barrier. This level has repeatedly repelled market cap growth, suggesting strong psychological and financial resistance. JD projects a triangular consolidation pattern from 2023 to 2025. The pattern’s rising lower trendline and flat resistance indicate increasing support and the potential for a significant breakout.
Another analyst, @dudebruhwhoa, highlighted the possibility of HBAR dropping to around 9–9.5 cents before rebounding to 18–20 cents. Despite losing the 50-day moving average, HBAR showed a modest recovery, suggesting cautious optimism among traders.
The HBAR ecosystem has also seen substantial growth in transaction volume. House of Chimera, a research platform, reported that Hedera is projected to process over 3.5 billion transactions this month. This surge is largely driven by new decentralized applications like SaucerSwap Labs, underscoring growing adoption and utility within the HBAR ecosystem.
At press time, Hedera (HBAR) is priced at $0.1052, with a daily trading volume of $63.69 million. This marks a 1.10% increase in the last 24 hours, reflecting steady interest from the market.
