The crypto market’s current volatility has placed Hedera Hashgraph (HBAR) in a precarious position, as the token hovers near the lower boundary of its recent trading range. Presently, HBAR is priced at $0.16188, reflecting a steep decline of over 11% in the past 24 hours. Despite this bearish sentiment, a number of technical indicators suggest that the asset may be on the verge of a turnaround.
Recent trading activity shows HBAR struggling against renewed selling pressure following an unsuccessful attempt to breach a crucial resistance level around $0.21. In the past, significant price movements past this resistance point have typically heralded bullish reversals, while consistent failures at this level have often resulted in extended sideways trading. The current market setup is reminiscent of previous accumulation phases, characterized by increased volatility and volume as the market appears poised for a directional shift.
Historically, HBAR has experienced two notable consolidation periods lasting 152 days and 105 days, both followed by substantial upward price movements. The current market structure, while still under resistance, shows similarities to these previous setups, suggesting that the token could be quietly coiling before another push up.
Support levels between $0.15 and $0.16 have so far managed to absorb the ongoing selling pressure. A decisive breakout and daily close above the $0.21 resistance could signal a resurgence of bullish momentum, potentially paving the way for HBAR to reach values between $0.30 and $0.35 in the months ahead.
Beneath the surface, the market data suggests a more intricate narrative. With a market capitalization of $6.7 billion and daily trading volume at $353 million, there remains healthy liquidity and participation even amid recent downturns. This level of activity frequently precedes trend reversals, particularly when combined with stable on-chain flows.
The current price decline may be concealing a quiet accumulation phase. HBAR has a history of displaying such behavior prior to significant bullish breakouts, commonly featuring an extended period of muted price action followed by sharp expansions. The persistence of capital inflows during sell-offs further supports this perspective, indicating that long-term holders might be expanding their positions while more transient traders exit the market.
Technical indicators present a mixed yet cautiously optimistic outlook. The Chaikin Money Flow (CMF) stands at +0.13, indicating net inflows despite the price weakness—a potential sign of accumulating interest. However, the MACD histogram remains in the negative zone at -0.0037, with the signal line also negative at -0.0106, suggesting that short-term momentum still favors bearish trends.
Nevertheless, when the CMF remains positive during periods of downward price movement, it could foreshadow an impending recovery, as capital strategically positions itself for the next move. Volume spikes at critical turning points, coupled with narrowing price ranges, often indicate an exhaustion of selling pressure. If HBAR can reclaim and maintain prices above the $0.21 level, it would likely confirm the end of this consolidation period and restore bullish dominance in the market.
