Hedera Hashgraph (HBAR) faces renewed selling pressure as price breaks below critical support near $0.17, hinting at potential downside continuation.
Hedera Hashgraph’s native token, HBAR, extended its decline on Wednesday, dropping 5.4% to $0.1695 as traders failed to defend a crucial support zone. The move comes amid persistent market uncertainty and declining investor sentiment across the altcoin sector, leading to accelerated technical weakness in the asset’s structure.
The daily chart reveals a decisive break below the $0.17–$0.18 support band, an area that previously served as a consolidation base in late September. Despite an initial attempt at an intraday rebound, sellers quickly regained control, driving prices back toward the lower end of the green demand zone.
“The loss of structure at $0.17 signals that bulls have lost short-term momentum,” According to BITX market analyst. “If price fails to reclaim this level soon, a deeper correction toward $0.14 could unfold.”
The breakdown also invalidated the short-lived recovery from the early October dip, when HBAR briefly rebounded from a descending channel formed between February and May. The bearish engulfing candle now places immediate resistance around $0.19, followed by $0.23, where heavy supply remains from previous price consolidations.
Trading volume remained moderate at 22.7 million HBAR, reflecting cautious market participation. Analysts suggest the subdued volume indicates that institutional buyers are waiting for clearer confirmation before re-entering the market.
“Until broader crypto momentum returns, HBAR’s near-term trend remains under pressure,” BITX technical strategist noted. “The $0.14 zone remains a logical next support, while any break above $0.19 could neutralize the bearish outlook.”
With sentiment fragile and volatility rising, HBAR’s ability to stabilize above $0.16 will be crucial in determining whether the current decline extends or forms a potential reversal base.
In the coming days, traders will closely watch volume confirmation and reaction near $0.14, a level that aligns with historical demand seen earlier in 2025. Sustained weakness below that area could open the path toward multi-month lows, underscoring the importance of near-term price action for Hedera Hashgraph’s broader recovery prospects.
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.