Hedera Hashgraph's native HBAR token whipped up 5.25% gains on Friday during the broader crypto market bounce back. Bitcoin (BTC) is closely approaching $80,000 for the first time in months, and major-cap alts are feeling the bullish energy: Ether (ETH) scorched near $2,400, while XRP emerged as the top gainer with an 18.9% daily spike.

For context, Hedera is not a conventional blockchain: the network runs on the hashgraph consensus algorithm — an asynchronous Byzantine fault tolerant mechanism developed by co-founder Leemon Baird — and is governed by a council of global enterprises that has included Google, IBM, and Deutsche Telekom, with HBAR used to pay transaction fees and to secure the network through staking.

Double-Bottom Breakout Crawls Toward This Neckline

For HBAR, the prolonged consolidation period concluded when the altcoin rose from $0.072 to $0.076, achieving a price trend break. That is evident on the one-day charts, crypto analyst Gopal argues. The seasoned market technician spotted a double-bottom figure on HBAR's one-day charts, with $0.07 acting as key support. In charting terms, a double bottom marks two lows at roughly the same level separated by an intermediate peak; the 'neckline' is drawn across that peak, and a sustained close above it is conventionally read as confirmation that a downtrend has run its course.

In the longer perspective, Gopal aims at $0.40 as the highest breakout target from this structure. For scale, that objective still sits below HBAR's all-time high of roughly $0.57, printed in September 2021. To seek confirmation, HBAR bulls are looking into the $0.21 – $0.22 range. If this neckline breaks, the $0.40 target remains intact, but Gopal says a price reversal to the late 2025 rally needs to happen first, potentially lifting HBAR up 300%.

#HBAR / USDT 🟢 $HBAR is showing a massive Double Bottom setup on the 1D chart 👀📈 Price is currently around $0.072, with the long-term structure showing two major bottoms. The key confirmation level is around $0.21–$0.22. A breakout and sustained close above this neckline… pic.twitter.com/3luLmbwTWR

— Crypto With Gopal (@cryptowithgopal) August 20, 2026 (X post)

Parabolic SAR Delivers a 'Buy' Signal on HBAR Charts

Digging into the one-day candlestick charts, DailyCoin's dedicated research team could confirm the price trend switch within the Parabolic Stop & Reverse (SAR) metric. Typically, the SAR index, portrayed as blue dots in the HBAR price chart, gives out a 'sell' signal if the dots manifest above the realized price.

In HBAR's current case, the last day printed the Parabolic SAR below price — technically, a 'buy' signal has been issued. However, here is where the SuperTrend comes into play. This price monitoring tool places a 'green label' which HBAR bulls have to beat in order to get bullish confirmation; like the SAR, it is a trend-following overlay that flips between support and resistance bands as the prevailing trend changes.

With the green line pointing to $0.092, this resistance level will be crucial before any solid attempts at the aforementioned $0.21 – $0.22 long-term confirmation zone. Another indication for that is the Chaikin Money Flow (CMF), flashing positive levels in the nearer time-frames, while the one-day view still leans on a bearish bias.

On The Flipside

Hedera's spot market volumes kept below $150 million despite the 5% uptick on Friday. That is considerably smaller than similar-ranking peers like Shiba Inu or Avalanche (AVAX). Volume is the standard caveat for chart-driven setups: a long-held principle in technical analysis holds that breakouts unaccompanied by rising participation are less reliable, which makes HBAR's thin turnover a datapoint to weigh against the bullish pattern readings.

Why This Matters

Technical analysis provides a rational perspective on a digital asset's price movement without taking hype into consideration. For a mid-cap altcoin riding Bitcoin's renewed strength alongside its peers, the named levels — $0.07 support, the $0.092 SuperTrend line, and the $0.21 – $0.22 neckline — serve as concrete checkpoints for evaluating whether Friday's bounce is extending or fading as new price data arrives.