Hedera (HBAR) has been subject to sustained selling pressure, slipping gradually from around 0.19 to below 0.175. After a sharp sell-off, the token made a brief attempt to recover, but struggled to break out of the bearish market.
As the market adjusted to the new lows, the tokens faced difficulty in breaking through the 0.185 resistance. This inability to break the resistance and the continued downward momentum kept the market in a bearish pattern. The lower highs and lows throughout the sell-off reinforced the negative sentiment and limited any potential for a swift recovery.
Now, HBAR is hovering above a key support zone near 0.175, with trading volume remaining relatively subdued. Without a strong push from buyers, the risk of further downside is present, and traders are keeping an eye out for a clear signal of either a reversal or a deeper drop.
HBAR Breakdown Looms If $0.1503 Support Fails
Hedera (HBAR) is coming into the fold of new market scrutiny following its recent performance, as seen on the 4-hour chart. The asset is trading at around $0.1747 at the time of writing, reflecting modest gains of +0.96% on the day. However, the broader technical picture reveals significant bearish undertones.
Earlier in the year, HBAR staged a sharp rally, eventually hitting a peak of $0.399, but the momentum proved unsustainable, triggering a prolonged downtrend. A notable formation that emerged during this period is the bearish flag pattern. The price formed a steep flagpole, later followed by a consolidative flag, ultimately leading to a breakdown that pushed HBAR to new lows near the $0.1276 support zone. The breakdown from this pattern confirmed bearish dominance, as the price struggled to regain footing despite brief recovery attempts.
As it stands, HBAR remains capped below key resistance levels, with $0.2007 acting as a critical hurdle. If the bulls manage to reclaim this level, there may be room for a further rally to retest the $0.25 region. On the downside, the $0.1503 and $0.1276 supports are pivotal, with any decisive breach potentially opening the door to deeper losses.
