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The daily chart shows that the HBAR price formed a double-bottom pattern at $0.1242, its lowest point on April 7 and June 22. Its neckline was at $0.2275, its highest level in May this year. 
Hedera has already made a break-and-retest pattern by moving back to the support at $0.2275. A break-and-retest is a highly common bullish continuation sign. 
Hedera has also moved above the 38.2% Fibonacci Retracement level, and formed a golden cross. This golden cross happens when the 50-day and 200-day moving averages cross each other. 
Therefore, the HBAR token is likely to continue rising as bulls target the key resistance at $0.2985, its highest point this month, which is approximately 12% above the current level. A jump above that level will point to more gains to last year’s high, which is about 50% above the current level.
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