Hedera Hashgraph Struggles to Hold Key Support Zone as Market Volatility Intensifies
Hedera Hashgraph (HBAR) has entered a critical phase after a sharp price reversal that wiped out a significant portion of its recent gains. The token fell to around $0.171, marking a notable 48% decline from its local peak, as technical signals now point toward increased bearish momentum.
HBAR Price Analysis: Support Zone Under Pressure
Over the past week, HBAR’s price action has been characterized by heightened volatility and strong selling pressure. After a brief attempt to recover above $0.21, the price swiftly reversed, dropping back into the key demand zone between $0.165 and $0.180. The chart also highlights how HBAR’s recent rally failed to sustain above resistance, suggesting a potential exhaustion of bullish momentum.
The technical pattern shows that HBAR broke out of a long-term descending channel earlier this year, only to face rejection at a major resistance band near $0.28–$0.30. Currently, the token is retesting the lower support range, a level that has historically acted as a pivot zone for price rebounds.
“The market is clearly in a profit-taking phase,” said BITX on-chain analyst. “HBAR’s inability to hold above $0.20 shows traders are cautious amid broader crypto market weakness. The next 48 hours are critical for determining whether the support near $0.165 can hold.”
Bearish Pressure and Volume Surge
Trading volume surged to 17.31 million, indicating intensified participation from both short-term traders and long-term holders repositioning. The spike in volume during the price drop underscores strong distribution at higher levels, hinting that sellers currently dominate the market.
If HBAR fails to close above $0.175, BITX analysts warn that the token could revisit the next key support zone around $0.14–$0.15, an area aligned with historical demand from earlier this year. Conversely, a daily close above $0.19 could signal renewed buyer interest and potential for recovery.
The broader cryptocurrency landscape remains fragile after recent corrections in major assets such as Bitcoin and Ethereum. While HBAR’s fundamentals remain strong, the short-term outlook leans bearish as traders watch for confirmation of a bottom.
In the coming sessions, maintaining the $0.165 support level will be crucial for avoiding deeper downside pressure and preserving the mid-term bullish structure that began forming in July.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.