Hedera Hashgraph Faces Key Hurdle After Rebound from Support
Hedera Hashgraph (HBAR) is showing resilience as it trades near $0.217, with strong buying volume supporting its latest rebound. The price is now testing a critical resistance level after bouncing from the $0.20–$0.21 demand zone, a region that has historically acted as a base for recovery rallies.
On the daily chart, HBAR recently defended its green support zone, sparking renewed bullish momentum. The recovery followed a prolonged downtrend that began after prices failed to sustain above $0.25–$0.30 resistance areas, marked by repeated rejections in late August and September.
“Volume expansion near support suggests accumulation by buyers, with $0.217 emerging as a short-term pivot. A breakout above this level could drive momentum toward the $0.25 resistance,” explained BITX technical analyst.
The chart also shows that HBAR previously broke out of a falling wedge pattern in June, which led to its sharp summer rally. Traders are now watching for a repeat setup, where sustained strength could trigger a fresh leg higher.
Despite recent volatility, market sentiment around Hedera remains cautiously optimistic. The network’s growing ecosystem and enterprise partnerships continue to attract investor attention. However, traders caution that the broader crypto market’s weakness could still weigh on short-term gains.
“HBAR has proven its ability to defend the $0.20 region multiple times. If bulls hold this base, the probability of testing $0.25–$0.27 increases. A failure, however, could expose the token to deeper downside toward $0.18,” According to BITX analysts.
HBAR’s immediate challenge lies in breaking past the $0.217 resistance with conviction. A close above this threshold would strengthen bullish confidence and open the path toward higher levels. On the downside, failure to sustain current gains may keep the token locked in a consolidation range.
For now, HBAR’s strong volume-backed rebound highlights buyer interest, but confirmation of trend reversal will depend on whether the resistance zone gives way in the coming sessions.
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.