Analysts eye major support as Hedera retests June levels following sharp correction
Hedera Hashgraph (HBAR) faced a steep 20% intraday decline, slipping from the mid-$0.20 range to around $0.169 before recovering slightly. The drop mirrors the broader crypto market sell-off that followed increased macroeconomic uncertainty and shifting trader sentiment.
The daily chart shows HBAR breaking below its short-term consolidation range, marked by the green support zone between $0.19 and $0.21, before sharply rebounding from a key historical level near $0.10, a price area last tested in early 2024.
Market analysts suggest the latest correction reflects a combination of profit-taking and weakened risk appetite following recent rallies across altcoins.
“This kind of volatility was expected after HBAR’s strong upward move earlier this quarter,” said BITX technical strategist. “A 20% pullback after extended upside momentum is a typical correction rather than a trend reversal.”
Technical outlook shows strong horizontal support
On the technical side, HBAR maintains a critical support base near $0.10, which has historically acted as a demand zone following large sell-offs. The chart also highlights resistance bands near $0.25 and $0.40, suggesting any recovery will face significant supply pressure.
Volume data indicates that the sell-off was met with notable buying activity, hinting at possible accumulation by long-term investors. However, analysts warn that a daily close below $0.15 could trigger further downside momentum toward the next major psychological level at $0.10.
“The recent candle wick shows strong buyer defense at lower levels, but sustained recovery depends on Bitcoin’s direction,” According to BITX analysts. “If BTC stabilizes, HBAR could reclaim the $0.20 level quickly.”
Despite short-term weakness, HBAR’s long-term structure remains intact, with traders watching for a potential reversal pattern near the $0.15–$0.17 area. The asset continues to show resilience in defending multi-month lows, keeping the possibility of a technical rebound alive.
As of publication, HBAR trades around $0.169, down over 20% from recent highs, yet holding above critical support — a sign that bulls are still active, even amid broader crypto market uncertainty.
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.