$HBAR Rally Gains Momentum on Golden Cross, Double-Bottom Breakout & DeFi Comeback 🚀
Hedera Hashgraph’s $HBAR hit $0.2650 on August 10 — up 16% from this month’s low and 107% from its yearly bottom. The move is fueled by bullish technical setups and improving on-chain metrics, hinting at more upside ahead.
Technical Signals in Play
Double-Bottom Breakout: Strong support at $0.1260, neckline at $0.2298. Breakout confirmed with a clean retest.
Golden Cross: 50-day EMA crossed above the 200-day EMA on July 18 — a classic bullish momentum trigger.
Bullish Pennant: Post-surge consolidation within a tightening triangle. Pattern height (~58%) suggests a breakout target near $0.40, aligning with January highs.
On-Chain Strength
Stablecoin Supply Bounce: Recovered from $57M to $85M after dipping from $224M earlier in August — signaling fresh liquidity and activity.
DeFi TVL Jump: From $143M to $270M, showing rising user engagement and confidence in Hedera’s ecosystem.
Outlook
With technical and fundamental momentum aligning, $HBAR could be on track to test the $0.40 resistance. A confirmed pennant breakout might ignite the next phase of the rally.
