What Hedera (HBAR) Traders Need to Know Now: Key Fibonacci Levels Reveal the Next Big Move

In today’s video by More Crypto Online, a popular technical analysis channel with nearly 300,000 subscribers, the creator breaks down what’s

The price of Hedera (HBAR) has recently come into the key Fibonacci zone of resistance that we discussed. As we can see on the chart above, the cryptocurrency encountered a firm resistance level between $0.206 and $0.223. This rejection wasn’t entirely surprising.

This resistance zone was defined by a set of key Fibonacci retracement levels – technical markers that often signal where prices might pause or reverse. We highlighted these levels in our previous analysis when we mentioned the possibility of a deeper correction for HBAR.

Many cryptocurrencies have been showing similar behavior with these Fibonacci levels recently. For example, we saw Bitcoin (BTC) and Ethereum (ETH) also testing and bouncing off key Fibonacci support and resistance zones during their recent rallies.

What makes this pullback interesting is how well it aligns with a classic A-B-C correction pattern. In this scenario, the initial A-wave dropped to a low on May 19, followed by a B-wave bounce. Now, the chart appears to be entering the final leg: the C-wave.

These kinds of corrective waves are common and typically symmetrical, meaning the C-wave often mirrors the A-wave in length and behavior. To pinpoint where this C-wave could land, we used a trend-based Fibonacci extension tool. This measures the length of the first drop and projects it from the top of the B-wave.

The result? A likely support zone between $0.1688 and $0.147. This “confluence zone” matches up with multiple Fibonacci levels, making it a high-probability area for potential price reversal.

Of course, nothing is guaranteed in the crypto market. If HBAR were to break out above its last swing high – currently sitting just above the $0.223 level – it could invalidate the bearish scenario entirely.

That kind of breakout would signal that the bulls are back in control and that the correction might already be complete. But for now, the structure points to one more move down before things potentially turn around.

As always, traders are advised to stay alert and watch these key levels closely. Whether you’re a long-term believer in Hedera or a short-term trader looking for opportunities, this Fibonacci roadmap offers a clear picture of where HBAR might be headed next.