Technical rebound hints at short-term recovery as buyers defend key demand zone near $0.1650.
Hedera’s native token, HBAR, slipped 2.6% to trade around $0.1691 during the latest session, briefly testing its near-term support area amid a surge in trading volume. The market reaction followed an active session in which sellers attempted to push the asset below its key floor at $0.1650, but buyers quickly stepped in, forming a double-bottom structure that hints at possible near-term stabilization.
Technical Overview and Market Context
Price action on the 4-hour chart shows HBAR defending a critical support zone between $0.163 and $0.167, where previous demand helped spark recoveries in late October. The recent rejection from the $0.22 supply area has kept the short-term trend under pressure, but sustained volume near current levels suggests that accumulation may be underway.
“The double-bottom formation near $0.1650 aligns with the broader structure seen since October, and this could mark an early reversal signal if confirmed above $0.1730,” noted one BitXJournal market analyst. “However, failing to reclaim that level could expose the price to renewed weakness toward $0.158.”
Volume and Structure Signals
Trading volume jumped over 40% above the 24-hour average, a sign of active positioning among both speculative and institutional participants. The Smart Money Concept indicator shows mixed signals, with a prior Break of Market Structure (BMS) still holding but recent Change of Character (ChoCH) events hinting at exhaustion among sellers.
If HBAR closes above $0.1730, it could confirm a bullish continuation toward the $0.19–$0.20 resistance area, where sellers last regained control. Conversely, a drop below $0.163 would likely invalidate the bullish setup, resuming the broader downtrend visible since early October.
The overall sentiment around HBAR remains neutral-to-cautiously bullish in the short term. Traders are watching whether rising on-chain activity and renewed ecosystem updates can attract sustained buying interest.
As one BitXJournal digital asset strategist summarized, “HBAR’s defense of $0.1650 shows resilience in the face of broader market weakness. If momentum follows through, we could see the asset target $0.19 before facing the next wave of resistance.”
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.