Hedera price (HBAR) breaks out of the falling wedge - New target 0.3 USD has opened up.

The price of Hedera (HBAR) is trading around 0.23 USD at the time of writing on Thursday, after successfully breaking out of the falling wedge pattern formed since the end of July. This move reinforces the confidence for the buyers, following positive information from the Archax event partnering with Hedera on Wednesday to launch the Pool Token functionality, bringing multi-asset investment portfolios to the Hedera network.

Meanwhile, technical signals are supporting a new short-term uptrend, with analysts targeting the area around 0.3 USD.

Hedera partners with Archax to launch Pool Token – A step forward in the RWA field

Archax – a regulated digital asset exchange, custodian, and broker in the United Kingdom, while also holding an operating license in Europe – officially announced on Wednesday the implementation of the Pool Token feature on the Hedera network.

Pool Token opens up the possibility of creating a portfolio, basket, or fund in the form of a single transferable on-chain token. The underlying asset categories in Pool Token are very diverse, including stocks, bonds, funds, and cryptocurrencies, allowing investors to apply multiple strategies within a single instrument.

In the press release, Archax emphasized:

"The first Pool Token minted on Hedera will hold equal shares of money market funds from four leading asset management companies: Aberdeen, BlackRock, State Street, and Legal & General – essentially creating a digital native 'fund of money market funds.'"

This announcement not only brings short-term momentum but also establishes long-term credibility for Hedera in the eyes of organizations, affirming its position as a formidable competitor in the RWA segment. At the same time, Hedera continues to demonstrate its pioneering role in developing a low-cost, high-throughput tokenization model suitable for enterprise-level applications.

Technical Analysis: HBAR breaks out of falling wedge, bullish signal is reinforced

In the trading session on Wednesday, the price of Hedera (HBAR) officially broke out of the falling wedge pattern – a technical structure formed by a series of lower highs and lower lows since the end of July. This is an important signal that reinforces the buyers, as this pattern is often seen as an early indication of a trend reversal.

As of the time of writing on Thursday, HBAR is trading around 0.23 USD, firmly above the old resistance level that has now become support. If buying pressure continues to be sustained, this coin has the potential to extend its recovery, with the nearest target set at 0.3 USD – the peak established on July 27.

Technical indicators are also sending positive signals, further strengthening the bullish outlook. The RSI index on the daily frame has risen above the neutral level of 50, indicating that upward momentum is forming and buyers are gradually gaining the upper hand. Additionally, the MACD indicator also recorded a bullish crossover signal on Tuesday, sending a clear buy signal and continuing to support the scenario of HBAR maintaining an upward trend in the short term.

Daily chart HBAR/USDT | Source: TradingViewHowever, the risk of a correction remains present and cannot be overlooked. In the event that selling pressure increases, HBAR may turn around to retest the key support area around the 200-day EMA at the level of 0.2 USD, which closely coincides with the lower trend line of the recently broken falling wedge pattern. This will be a crucial defense level, determining whether the new uptrend can be maintained steadily in the near future.

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