- HBAR finds key Fibonacci support after a sharp rejection from recent highs
- MACD signals potential exhaustion, but a bullish crossover could flip momentum
- Upcoming price action around critical levels will decide the next major move
HBAR had an impressive rally, breaking past previous resistance levels and looking poised for a bigger breakout. But just as momentum seemed to be picking up, the price saw a sharp rejection near $0.28, sending it tumbling back toward key support.
This kind of movement is common in volatile markets. A quick surge attracts new buyers, only for profit-taking and market corrections to kick in, forcing a pullback. Looking at CoinGecko data, HBAR retraced back to the 0.618 zone, a critical level where many traders expect price stabilization or a potential bounce.
If this Fibonacci support holds, we could see HBAR make another attempt at higher levels. But if it breaks, lower levels around $0.22-$0.23 could come into play, dragging the price further down before the next real rebound.
A Sudden Reversal After a Strong Climb
Currently, it’s showing signs of exhaustion, hinting that the recent downtrend could continue if bulls don’t step in soon.
However, if MACD forms a bullish crossover, that could mean fresh momentum is building up, leading to another breakout attempt. Historically, these crossovers have preceded strong moves, so traders will be watching closely for any sign of a shift in momentum.
Until then, it’s a waiting game—HBAR needs to either reclaim lost ground or consolidate before making its next major move.
Key Levels to Watch for a Rebound
Right now, $0.24-$0.25 is a critical support zone. If HBAR holds this range and starts climbing back up, it could be a strong signal that buyers are stepping in.
On the other hand, if the price struggles to recover and breaks below $0.23, we might be looking at a more prolonged correction, possibly down toward $0.20 before any serious recovery takes place.
Hedera Hashgraph, the network behind HBAR, was founded in 2018 by Leemon Baird and Mance Harmon. Unlike traditional blockchains, Hedera uses a hashgraph consensus, which allows for faster, more efficient transactions—a key reason why it has attracted enterprise adoption from companies like Google, IBM, and Boeing.
As HBAR sits at a crossroads, its next few moves will set the tone for where it’s headed next. If buyers defend support levels, this pullback might just be a setup for another strong move up.
