HBAR Price’s Breakout From Downtrend is Dependent on How Bitcoin Performs

Hedera ($HBAR) is showing signs of attempted recovery after weeks of subdued movement. The recent uptick comes amid a bullish wave across the broader crypto market and renewed investor support.

However, whether $HBAR can sustain this rebound largely depends on Bitcoin’s trajectory.

Hedera Investors Are Bullish

$HBAR currently shares a strong correlation of 0.95 with Bitcoin, signaling that its movements are closely tied to the market leader. A high correlation often means $HBAR will mimic $BTC’s direction, which could be favorable if Bitcoin sustains its current momentum.

With Bitcoin trading above $117,000 and maintaining an upward push, $HBAR could benefit directly from this rally. Investors are likely to view the altcoin’s performance through Bitcoin’s lens, meaning any bullish extension from $BTC could serve as a catalyst for $HBAR’s price growth.

Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.

$HBAR Correlation To Bitcoin">

$HBAR Correlation To Bitcoin. Source: TradingView

Beyond correlation, the Chaikin Money Flow (CMF) for $HBAR is showing a sharp uptick, moving firmly into positive territory. This reflects growing investor inflows and suggests rising confidence in the asset’s short-term trajectory. Sustained capital movement is a key driver for bullish price action.

Strong inflows also indicate that $HBAR is attracting attention despite broader market uncertainty. If investor participation continues at this pace, $HBAR could secure a foundation for further gains, particularly as it attempts to break free from its ongoing downtrend.

$HBAR CMF">

$HBAR CMF. Source: TradingView

$HBAR Price Can End The Downtrend

At the time of writing, $HBAR is priced at $0.244, just under the resistance of $0.248. The altcoin remains trapped in a downtrend that began in late July, making this resistance level crucial for recovery.

If bullish momentum persists, $HBAR could breach $0.248 and target $0.266. Successfully flipping these levels into support would end the ongoing decline and establish the groundwork for extended growth in the coming weeks.

$HBAR Price Analysis. ">

$HBAR Price Analysis. Source: TradingView

However, if $HBAR fails to mirror Bitcoin’s strength or loses investor backing, it risks slipping through the $0.241 support. Such a breakdown could send the price toward $0.230 or even $0.219, effectively invalidating the current bullish outlook.

The post $HBAR Price’s Breakout From Downtrend is Dependent on How Bitcoin Performs appeared first on BeInCrypto.