Traders eye $0.22 demand zone as Hedera consolidates after sharp rebound
The price of Hedera Hashgraph (HBAR) has shown a notable recovery in recent weeks, moving away from its July lows near $0.12 to trade around $0.22. Technical indicators suggest the token is consolidating between strong support levels and overhead resistance zones, leaving traders focused on the next decisive breakout.
On the 4-hour chart, HBAR recently broke out of a prolonged descending channel, which had kept the price under pressure from May through early July. Following the breakout, a sharp surge carried the token above $0.25, before sellers re-emerged at the $0.26–$0.30 resistance band.
Currently, HBAR is testing support around $0.21–$0.22, marked by significant buying interest in previous sessions. “This level represents a key demand zone that has historically triggered rebounds,” said one analyst observing the market.
If HBAR manages to hold above its green support zone, traders expect another attempt to reclaim higher ground. The immediate resistance lies at $0.26, followed by a stronger ceiling near $0.30.
BITX Market observers note that volume spikes during the breakout phase in July reflected strong participation, but momentum has since cooled. “For a sustainable rally, we need to see a decisive close above $0.26 with volume confirmation,” According to BITX market strategist.
The token’s price action highlights the importance of consolidation after a steep rally. Many traders remain cautious, waiting for confirmation of trend direction. “HBAR is showing resilience at $0.22, but failure to hold this level could push the price back toward $0.19,” According to BITX analysts .
In summary, Hedera’s immediate battle is between $0.22 support and $0.26 resistance. A breakout above could pave the way for a retest of the $0.30 zone, while a breakdown risks renewed bearish pressure.
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.