The cryptocurrency market never sleeps, and neither does opportunity. One altcoin that's starting to turn heads this week is Hedera (HBAR), specifically paired with the Malaysian Ringgit (MYR). A close look at the 1-hour timeframe reveals an interesting development — HBAR has just broken out of a symmetrical triangle, a classic technical pattern known to precede strong price movements.


Hedera Chart

Whether you're a day trader hunting for breakout momentum or a swing trader looking for setups with strong confirmation, HBAR’s current chart is worth a second look. In this post, we’ll explore key indicators, volume dynamics, and chart patterns to assess where HBAR might be headed next — and which trading styles this move might suit best.

Chart Pattern: Symmetrical Triangle Breakout

HBAR had been trading within a symmetrical triangle pattern over several sessions, with converging highs and higher lows signaling a tightening price range. Just recently, the price action broke above the triangle’s resistance line with a bullish candle — a breakout that typically suggests strong upside continuation if backed by volume.

Breakout Target: A projected upside of +30.5%, aiming for the 1.08–1.12 MYR price zone.

Indicators Breakdown

  • RSI (Relative Strength Index): Currently at 57.86 — sitting in a neutral-to-bullish zone, leaving room for continued upward movement before hitting overbought territory.
  • MACD: Shows a bullish crossover with rising histogram bars — momentum is favoring the bulls.
  • DMI (Directional Movement Index): The +DI (green) is above -DI (red), with ADX crossing the 20 level, indicating a trend may be gaining strength.

Volume Confirmation

During the breakout, volume spiked slightly above average — a positive signal that the move has backing from buyers. Continued volume growth in subsequent candles will be crucial for validating this upward trajectory.

What Does It Mean for Traders?

This breakout pattern and indicator alignment suggest a short-to-mid-term bullish outlook for HBAR. Here’s how the current setup fits into different trading strategies:

  • Day Trading: ✅ Breakout setup is actionable with intraday momentum. Ideal for short-term scalps or breakout plays.
  • Swing Trading: ✅ Triangle breakout supports setups lasting several days to a week. Room to ride toward the projected target.
  • Position Trading: ⚠️ Requires more confirmation above 1.12 MYR and potentially weekly trend reversal signs.
  • Long-Term Holding: ⚠️ Still uncertain — broader ecosystem and macro trend need to be assessed.

Quick Summary

  • HBAR has broken out of a symmetrical triangle on the 1-hour chart.
  • Momentum and volume indicators support a possible upward continuation.
  • Short-term target: 1.08–1.12 MYR (+30%).
  • Best suited for day traders and swing traders in the near term.

Conclusion

HBAR’s chart is showing promising signs of bullish momentum following its breakout from a symmetrical triangle formation. The alignment of technical indicators like MACD, RSI, and volume suggest that a rally toward the 1.08–1.12 MYR region is a realistic short-term projection. For traders watching closely, this could present a favorable opportunity, especially for day and swing strategies.

That said, always remember that price patterns are probabilities — not certainties. Successful breakouts still require strong follow-through. For those considering longer-term positions, it's wise to wait for broader market and trend confirmation.

Disclaimer:

This analysis is for informational purposes only and does not constitute financial advice. Always perform your research and consult a professional before making trading or investment decisions.


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