The HBAR price is displaying multiple bullish signals on its chart, indicating that a rebound could be on the way even as network growth in the decentralized finance (DeFi) sector continues to slow down.
Summary
- The HBAR price has formed several bullish technical patterns, hinting at potential upward momentum.
- A falling wedge structure and the ongoing second phase of the Elliott Wave indicate a likely continuation of the bullish trend.
- However, weakening network growth remains the primary concern for investors and traders.
Currently, HBAR trades near $0.2286, rebounding from this month’s low of $0.2060. Although it has shown signs of recovery, the token still sits about 25% below its yearly high of $0.3045.
HBAR Price Technical Overview
On the daily timeframe, the HBAR price chart reveals several bullish patterns that could signal an upcoming breakout. The token recently completed a double-bottom formation around $0.1230, with a neckline near $0.2277 — a setup commonly linked to strong trend reversals.
Following that, HBAR formed a falling wedge pattern, defined by two descending, converging trendlines. This pattern typically suggests a bullish breakout and currently fits within a larger bullish pennant structure.
From a technical perspective, HBAR appears to be in the second phase of the Elliott Wave cycle, which is often followed by the powerful third wave — historically the most aggressive phase of an uptrend.
In addition, the token has moved above its 200-day Exponential Moving Average (EMA), a sign that buyers are maintaining control. If the momentum continues, the next resistance level sits around $0.3045 — roughly 35% above current levels. Breaking through that resistance could drive the price toward $0.4018, representing potential gains exceeding 70%.
However, if HBAR falls below the key support zone at $0.2061, the bullish setup could weaken, invalidating the current positive outlook.
Slower Network Growth Raises Caution
While the HBAR price remains technically strong, on-chain data points to weakening fundamentals. Recent reports show that decentralized exchange (DEX) trading activity on the Hedera network has declined steadily over the past few months. Volumes, which peaked around $1.7 billion in December last year, have fallen to roughly $242 million by September — a clear sign of decreased user participation.
Similarly, the total value locked (TVL) across Hedera’s DeFi ecosystem has dipped from about $250 million in July to nearly $230 million currently. Compared with smaller emerging blockchains such as Plasma, Linea, and Katana, Hedera’s DeFi performance remains relatively subdued.
Additionally, the stablecoin supply on the network has fluctuated sharply. After reaching $164 million earlier this month, it dropped to approximately $81 million. Comparable declines were seen earlier this year, highlighting volatility in network liquidity and user confidence.
HBAR Price Outlook
Despite weaker network fundamentals, the HBAR price continues to show strength from a technical perspective. Multiple bullish formations and positive momentum indicators suggest that further upside may still be possible if overall market sentiment improves.
Traders are closely watching the $0.3045 resistance level. A confirmed breakout above that point could validate the bullish scenario and pave the way for the next Fibonacci-based targets.
For now, HBAR remains in a cautiously optimistic position — technically strong but fundamentally challenged. If the network’s growth stabilizes and investor confidence returns, the token could extend its upward journey in the coming weeks.
