Hedera Hashgraph Faces Renewed Selling Pressure Amid Failed Breakout
Hedera Hashgraph’s native token, HBAR, slipped 1.7% to $0.170 on Friday, extending a week-long decline as the cryptocurrency struggles to reclaim its technical footing following a failed breakout near the $0.1716 resistance zone. Recent price action suggests that sellers may be regaining control after an early October rebound attempt faded below the $0.21 supply region.
On the 4-hour chart, HBAR recently broke below a descending channel pattern that had previously guided price action since mid-September. The channel breakdown was confirmed after multiple rejections near upper resistance, followed by a sharp selloff toward the $0.17 mark.
The coin now trades near a critical demand zone between $0.1560 and $0.1620, highlighted by increased buying volume during prior dips. However, analysts caution that continued weakness below $0.17 could open the door to deeper retracements.
“Losing the $0.17 level is significant,” said BITX independent market analyst. “It shows that institutional players might be reducing exposure, particularly after the rejection near $0.1716, which aligns with a key liquidity area.”
Institutional Distribution Signals Market Fatigue
Market structure suggests a phase of institutional distribution, with price consolidating below a key resistance band between $0.2050 and $0.2150. This zone has repeatedly acted as a supply ceiling, and until bulls reclaim it decisively, upward momentum appears limited.
Trading volume remains moderate, hinting at waning retail participation while larger entities quietly rebalance holdings. The lack of a strong bullish catalyst, combined with Bitcoin’s recent sideways movement, has further dampened sentiment for mid-cap altcoins like HBAR.
For now, traders are watching whether HBAR can sustain above the $0.1560 support, which marks the lower bound of the green demand zone on the chart. A confirmed close below this level could trigger a continuation toward $0.1450, while reclaiming $0.18 would be the first signal of renewed buying interest.
HBAR remains in a technical crossroads—its ability to hold above near-term support will define whether the market’s next move is recovery or further decline.
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.