Hedera's HBAR token has experienced significant volatility recently as it struggles to break free from a prolonged downtrend. Despite facing losses, traders are optimistic about a potential positive shift, with hopes of HBAR reaching $0.2 soon.

Traders are anticipating increased volatility for HBAR as indicated by its Bollinger Bands, which are narrowing, often preceding a significant price movement in either direction depending on market conditions. The current positioning of candlesticks below the baseline suggests a potential upward surge in HBAR's price if the squeeze leads to bullish momentum, resulting in significant gains.

The market sentiment for HBAR remains positive, supported by recent funding rates showing bullishness with a dominance of long contracts. This optimism indicates traders' confidence in HBAR's future price increases and positions them for a potential breakout.

Currently trading at $0.164 after a 7-week downtrend, HBAR needs to surpass the $0.177 resistance and establish it as support to break out of its bearish trend. Breaking this crucial barrier could pave the way for further gains, with a target of $0.197 and ultimately $0.2. However, failure to breach the $0.165 resistance and dropping below the $0.154 support could lead to a decline to $0.143 or $0.133, jeopardizing the bullish outlook and moving the token further from the $0.2 target.