- Analyst forecasts a 123% rally in HBAR with targets at $0.504 and near $1.
- HBAR forms a bullish pennant pattern with support at $0.187 and resistance at $0.292.
- Current HBAR price holds above $0.21, supported by bullish Parabolic SAR indicator.
Hedera (HBAR) is beginning to record a significant bullish breakout, and analyst Javon Marks predicts a possible 123% run up. One of the main price targets will be $0.504 and passing that level would trigger an explosion to 1. The latest chart patterns show that they have a bullish pennant formation which is backed by higher lows and other bullish patterns such as Parabolic SAR. The price trend of HBAR price poses a high potential of price growth in the long run.
HBAR Price Action: Targets Align With Analyst’s Bullish Chart
According to analyst Javon Marks, HBAR price is positioned for another major upward leg after clearing earlier resistance levels. His chart highlights a projected 123% rally, with the first major target around $0.504, followed by a secondary level just under $1.
The breakout formation indicates that the price of Hedera has already established a reversal zone that justifies the outlook. Notably, the asset has always had higher lows indicating high conviction in the market.
The analyst stresses that a break above 0.504 may open the door to a more forceful continuation pattern. This projection, therefore, indicates that the long-term HBAR price prognosis is more positive.
The HBAR price portrays a pennant flag, a bullish formation, that has been established after a rave upsurge on the one-week chart. The HBAR current value is traded at 0.214 value with a slight volatility after a steep rise in the year.
The pattern is defined by converging trendlines, trapping price action between resistance near $0.292 and support levels around $0.187. Price currently trades in the mid-range, with visible attempts to hold above $0.21, supported by the Parabolic SAR indicator.
In case buyers recover, a break to $0.400 might be achievable, as it corresponds to the long-term forecast. Nevertheless, failure by the upper limit may extend the consolidation. Finally, this structure supports the HBAR price projection in the long term as technologically positive in spite of the short-term contraction.
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