The HBAR price is currently trading around $0.146, reflecting a significant decline of nearly 19% over the past week and an alarming drop of approximately 39% over the last three months. This downward trend highlights increasing concerns among investors, particularly as the latest charts indicate that HBAR is nearing a critical support level. Analysts emphasize the necessity for buyers to defend this key threshold to avoid a further decline in the token’s value.
Recent market analyses reveal a troubling shift in momentum, as evidenced by the 12-hour Relative Strength Index (RSI), which serves as an indicator of buying strength. Between November 17 and 18, the Hedera token registered a lower high, while the RSI exhibited a higher high, a phenomenon recognized as hidden bearish divergence. This divergence suggests that the prevailing downtrend remains intact, as the momentum increased despite the HBAR price’s inability to follow suit.
The daily chart further substantiates this bearish outlook, illustrating that HBAR price has been trapped within a falling channel. An attempted breakdown from this channel occurred on November 17, during which dip buyers momentarily retreated. This was particularly noteworthy as the Money Flow Index (MFI), which gauges dip buying through price and volume, also broke its ascending trendline during this period.
Adding to the concern, the MFI has recently shown signs of weakening again. Over the period from November 15 to 19, while HBAR prices continually hit lower lows, the MFI did manage to form higher lows—indicating some dip buying activity. However, this buying momentum has not been robust enough to reverse the ongoing downtrend. The MFI’s breach of its rising trendline further compounds these issues; should it drop below the 36 mark, it would eliminate the higher-low structure entirely, suggesting that sellers may have regained full control of the market.
With both the RSI divergence on the 12-hour chart and the MFI breakdown on the daily chart signaling bearish tendencies, HBAR currently finds itself at a precarious juncture where dwindling demand meets a persistent bearish trend.
The critical support level to monitor is $0.141, a threshold that could potentially halt the token’s decline in the short term. This level lies just above the lower boundary of the falling channel, and a close below it could lead to a further drop to around $0.134, approximately 8.8% lower. Falling below $0.134 would raise the likelihood of a more extended price downturn.
For HBAR to regain upward momentum, buyers must work to reclaim the $0.154 level in daily close terms. Achieving this would alleviate some of the current pressures and pave the way toward a recovery to $0.1808, contingent on the MFI reversing its downward trend and renewed dip buying activity.
Presently, the market structure appears weak, with dip buyers withdrawing and momentum indicators turning against HBAR. The price is precariously situated near the bottom of its trading channel, and without a prompt reclaiming of the $0.154 level, the possibility of a significant breakdown remains high.
