HBAR has shown a promising recovery recently, with a 14% increase over the past week, raising traders' expectations for future growth. The current challenge for HBAR is overcoming resistance at $0.20, but there is a possibility of establishing this level as support if the current bullish trend continues.

Traders are showing optimism towards Hedera as evidenced by the significant 46.8% increase in Open Interest in the last two days, totaling $232 million. This rise reflects traders' active involvement in the bullish trend. Moreover, a positive funding rate indicates a dominance of long contracts over short contracts, demonstrating trader confidence in HBAR's upward potential.

Market sentiment is positive due to the higher number of long positions compared to short contracts, boosting investor confidence and driving demand for HBAR. Additionally, technical indicators like the Relative Strength Index (RSI) indicate strong bullish momentum, suggesting a potential for further upward movement. The rising RSI signals increasing buying pressure, aligning with the optimistic market sentiment and increasing Open Interest, hinting at HBAR's capacity to achieve new highs.

At the moment, HBAR is priced at $0.180, nearing the $0.182 resistance level. While in a consolidation phase, HBAR awaits a bullish trigger to break through this resistance. Maintaining its position above $0.162 would protect it from significant losses. With the positive market sentiment and strong technical indicators, there is a likelihood that HBAR could surpass the $0.182 resistance in the near term, aiming for $0.197 and potentially $0.200 as a crucial milestone in its price recovery.

However, failing to breach the $0.182 resistance may lead to a fallback to $0.162, wiping out recent gains and negating the bullish outlook, causing a temporary decline in price.