Hedera Hashgraph price is forming a potential double bottom at $0.21, a critical support zone reinforced by Fibonacci and VWAP. Open interest reset suggests room for bullish accumulation and expansion.
Summary
- Hedera Hashgraph is currently positioned at a technically critical $0.21 support zone, where a developing double bottom pattern and neutralized open interest indicate potential for a bullish reversal.
- If buyers defend this level, HBAR could target $0.30, while Wyoming’s adoption of Hedera in FRNT highlights real-world use cases that may further bolster confidence in the token.
Hedera Hashgraph’s (HBAR) price action has reached a pivotal moment, consolidating at a high-confluence support level after a corrective phase. Technical signals point to the development of a double bottom pattern while open interest has reset to neutral levels.
This combination sets the stage for potential bullish expansion if buyers can sustain momentum at $0.21. Meanwhile, Wyoming is integrating Hedera into FRNT to showcase how blockchain can boost efficiency, transparency, and speed in public payments under strict oversight.
HBAR price key technical points:
- Critical $0.21 Support Zone: Aligned with high timeframe structure, 0.618 Fibonacci retracement, and VWAP.
- Double Bottom Formation: Pattern signals demand and the willingness of buyers to defend support.
- Open Interest Reset: Neutral levels create space for new bullish positioning.
Hedera has been trading at $0.21, a level that holds strong significance both structurally and technically. This area aligns with the 0.618 Fibonacci retracement and the VWAP, making it a high-confluence zone where buyers often look to re-enter the market. The development of a double bottom pattern at this level further strengthens the bullish case, as it reflects demand absorption and renewed buying pressure.
The importance of the double bottom cannot be understated. Forming at the 0.618 Fibonacci level, it highlights that market participants are defending the retracement zone. Historically, such setups often act as springboards for a reversal rally, creating the conditions for rotation toward higher resistance levels. In HBAR’s case, the immediate upside target would be the high timeframe resistance at $0.30.
Derivatives data reinforces this outlook. Open interest, which had previously expanded in tandem with bullish price action, has now returned to neutral levels. This reset is constructive for the market because it clears out excessive leverage and leaves room for new long positions to accumulate. A rise in both open interest and price from this point would be a strong confirmation of bullish continuation.
The combination of structural support, technical confluence, and healthy derivatives positioning makes the current region critical for HBAR. Failure to hold $0.21 would threaten the bullish outlook, but a sustained defense could lead to significant upside momentum in the sessions ahead.
What to expect in the coming price action
If $0.21 continues to hold, HBAR could initiate a bullish reversal, targeting $0.30, which would represent a potential 46% gain from current levels. Buyers must confirm this setup with volume inflows and sustained growth in open interest to validate its continuation.
