HBAR prices set a bullish pattern for textbooks, hinting at almost 30% of meetings. However, the road ahead does not have hurdles.
While the purchase strength is visible, the signs of profit and the critical support level may determine whether this breakout setup will play or fail.
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There’s a sales pressure build, but dip purchase keeps playing bulls
The past three weeks have shown clear changes in the flow. In the week of August 25th, spot spills across HBAR exchanges totaled nearly $15.94 million, pointing to a strong accumulation. By the week of September 8th, that figure had dropped to just $7.51 million. This is a decrease of over 50%.
This indicates that the exit has begun as the signs of a downtrend became milder and the HBAR prices were traded in a range.
At the same time, Bull Bear’s power indicator, which tracks whether the buyer or seller has more control, indicates that the Bulls are still ahead, but their grip has weakened. This matches the flow data. Traders reserve profits in price range. This is a 10% movement of HBAR prices over the past week.
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But one sign is to keep bullish cases alive. Money flow index (MFI), which measures buying and selling pressure by factoring both prices and quantities, has been steadily rising since September 6th.
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Higher MFI movements allow DIP buyers to be active despite profitability. In other words, even if some traders take money from the table, others are intervening to buy the pullback. This combination of sales and dipping purchases sets the stage for what comes next.
The cup and handle pattern hints at breakouts for HBAR prices, but the key level must be preserved
On the chart, the HBAR shapes a cup and handle pattern. This still leaps against the Hedera Hash Graph (HBAR) and shapes a bullish setup that shows a continuation of a broader trend charting around 380% of gray year-over-year. The handle is about $0.243 and the short-term dip to $0.238 remains within range.
But there’s a catch. If the HBAR price drops below $0.232 (critical level), the pattern is ineffective as it reduces deeper than half the cup depth. Beyond that level is important for bulls.
If a breakout is confirmed, the potential rise ranges from $0.305 to $0.314, representing an increase of nearly 30% from current levels. The first target comes from the breakout projection of the handle, while the second comes from the neckline breakout. This is a clean confirmation.
Momentum supports this view. The relative strength index (RSI), which tracks excess and excess sales conditions, has achieved a higher lowest while the price is gaining a lower low. This is called bullish divergence and often indicates that the downtrend (a 2% decrease in monthly HBAR) is about to turn its way.
In short, the structure is bullish, but catches are at the $0.232 level. Breakouts above $0.250 make travel more expensive, while dips below $0.232 completely erase the bullish setup.
