Hedera Hashgraph (HBAR) is navigating a critical juncture as it approaches vital support levels around $0.16. Market analysts are closely monitoring significant trendline zones that could influence Hedera’s price trajectory in the coming days.
The token experienced a decline of over 4% in the last 24 hours, trading around $0.17. Initially, HBAR opened the day near $0.175, but sellers quickly gained control, pushing the price down to an intraday low of approximately $0.16. Although there was a slight recovery that brought prices close to $0.168, overall momentum remained sluggish.
Recent market data indicates a trading volume of about $482.89 million for Hedera, suggesting moderate activity but limited buying interest. This downturn aligns with broader market weaknesses, as many altcoins followed Bitcoin’s downward trend. Analysts note that short-term traders appear to be cashing in profits at resistance levels, intensifying the selling pressure on HBAR.
The price structure reveals an emerging support zone between $0.165 and $0.17, where buyers have historically defended against further declines. If HBAR maintains its stand within this range, it could catalyze a short-term recovery. However, a break below $0.16 could trigger a more significant retracement toward lower support levels not seen since earlier in the quarter.
Analyst Don highlights that the token is currently near a pivotal area characterized by intersecting trendlines on the 4-hour chart. He emphasized that a reclaim above a specific ascending trendline, which has provided dynamic support in recent months, is essential for triggering a potential bullish reversal. The persistent descending resistance line complicates price movement, creating a compression pattern that has constrained Hedera’s recent performance.
Don’s analysis suggests that reclaiming and sustaining levels above the aforementioned trendline could spur a strong reversal, with projections indicating a potential rally toward the $0.35 to $0.50 range, assuming sufficient momentum builds. He also points out that initial consolidation may precede this upward trajectory, marking reclaiming $0.175 as the first crucial step toward recovery.
Additionally, analyst ChartNerd notes that HBAR remains in a broad ascending channel, respecting both the support and resistance boundaries over the long term. Current trading around $0.16 aligns with the channel’s midpoint, coinciding with key moving averages that have historically guided the asset’s upward movement.
ChartNerd asserts that sustaining above the $0.16 area is vital to maintaining a bullish outlook. This level has consistently acted as an accumulation zone, with buyers repeatedly intervening to support the price. A rebound from this stronghold could lay the groundwork for an upward move toward the channel’s upper resistance line, suggesting potential price targets exceeding $1.00 in the upcoming cycles.
Conversely, a drop below $0.139 could jeopardize this channel formation and lead to a more extended corrective phase. Stability within this channel remains crucial for bolstering long-term investor confidence, particularly if the ascending trendline continues to serve as a structural base for buyers.
The outlook for a rebound largely hinges on reclaiming the $0.175 level. A close above this threshold could stimulate buying activity, potentially moving the price into the $0.18–$0.19 region and shifting sentiment favorably toward bullish traders. The observed consolidation around $0.17 may indicate that accumulation is already in progress, but confirmation requires sustained performance above immediate resistance levels.
With the next few sessions poised to be critical, analysts are cautiously optimistic regarding HBAR’s ability to transition from its current consolidation phase into a meaningful rebound amidst ongoing market uncertainties.
