HBAR Price Faces Crucial Breakdown Risk, Will $0.15 Hold?
- HBAR continues to face selling pressure, dropping from $0.19 to below $0.175.
- A bearish flag breakdown signaled deeper downside risk.
- The token is hovering near key support at $0.175 with low trading volume.
- A break below $0.1503 could open the path to the $0.1276 support level.
Hedera (HBAR) has been under sustained selling pressure, slipping from around 0.19 to below 0.175. After a sharp sell-off, the token made a brief attempt to recover but struggled to break resistance near 0.185. Continued downward momentum has kept the market in a bearish pattern, with lower highs and lows reinforcing the negative sentiment.
HBAR is now hovering around a key support zone near 0.175, with trading volume remaining relatively subdued. Without a strong push from buyers, the risk of further downside remains, and traders are watching closely for a clear signal of either a reversal or a deeper drop.
HBAR Breakdown Looms If $0.1503 Support Fails
Hedera (HBAR) is facing renewed market scrutiny after its recent performance, as seen in the 4-hour chart. The asset is trading at around $0.1747 at the time of writing, reflecting modest gains of +0.96% on the day. However, the broader technical picture reveals significant bearish undertones. Earlier in the year, HBAR staged a sharp rally, peaking near $0.40, but the momentum proved unsustainable, triggering a prolonged downtrend.
A notable formation is the bearish flag pattern that emerged. The price formed a steep flagpole followed by a consolidative flag, ultimately leading to a breakdown that pushed HBAR to new lows near the $0.1276 support zone. The breakdown from this pattern confirmed bearish dominance, as the price struggled to regain footing despite brief recovery attempts.
Currently, HBAR remains capped below key resistance levels, with $0.2007 acting as a critical hurdle. If the bulls reclaim this level, there may be room to retest the $0.25 region. On the downside, the $0.1503 and $0.1276 supports are pivotal, any decisive breach could open the door to deeper losses.
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Read more: https://www.tronweekly.com/hbar-price-faces-crucial-breakdown-risk-will-0-15-hold/
Text source: TronWeekly
