In a dramatic turn of events, Hedera’s token, HBAR, experienced a significant drop of over 20%, plummeting to $0.17 and reaching its 100-week moving average for the first time since November 2024. The steep decline from $0.215 to $0.1685 marked a 21.7% intraday decrease amid heightened market volatility, prompting analysts to closely analyze this pivotal moment in its trading history.
Analysts, including The Great Mattsby and Gilmore Estates, have identified this moving average level near $0.145 as crucial long-term support. The implications of holding above this threshold could lead to potential accumulation, providing traders with a vital technical milestone on which to base their strategies. The Great Mattsby noted the price action appears reminiscent of the consolidation seen before Hedera’s breakout in late 2024, suggesting that if HBAR can stabilize above the moving average, the token may prepare for another upward trajectory.
In previous trading patterns, interactions with the 100-week moving average have typically served as either accumulation or reversal indicators. This occasion is viewed as a decisive retracement following a sustained rally over past months. Technical analysts are eyeing immediate resistance around $0.19, while the support level of $0.15 has shown notable buying interest in August. How these levels react in the coming days will significantly influence Hedera’s next direction in the market.
Amid this turbulent market backdrop, community sentiment appears to remain steadfast. Analysts like Gilmore Estates have voiced a strong confidence in Hedera’s long-term outlook, with sentiments from long-term holders reflecting a belief that the current drawdown is merely a temporary shakeout rather than a fundamental shift. The selling pressure, though pronounced, has not erased the broader positive structural growth seen in previous months.
Investor behaviors indicate that a surge of stop-loss triggers and liquidations may have fueled the abrupt price decline. As the price approached $0.17, selling seemed to ease, hinting at a possible exhaustion among sellers. This response suggests that the market may be testing a liquidity pocket, creating opportunities for stronger hands to reaccumulate positions as volatility subsides.
The trading volume during the decline soared to nearly $796 million, marking a stark increase from recent averages. This spike is reflective of the tumult across exchanges as panic-selling triggered widespread liquidations. Despite the downturn, HBAR managed to find temporary stability around the $0.17 mark, maintaining a market capitalization of approximately $7.09 billion, positioning it among the top 30 cryptocurrencies.
The broader cryptocurrency market mirrored HBAR’s volatility, experiencing heavy selloffs amid macroeconomic uncertainties. However, unlike many major digital assets, HBAR has retained critical structural levels that traders deem as strategic supports. A recovery above the $0.18–$0.19 range may signal a short-term rebound, while a consistent hold near the 100-week moving average could indicate prolonged consolidation in the days ahead.
