- HBAR recently hit resistance before facing a corrective phase.
- The price structure suggests a pattern of higher highs and lower lows.
- Holding support at key levels could determine the next directional move.
HBAR’s Recent Rally and Rejection
Hedera Hashgraph (HBAR) experienced a strong rally, reaching a high of $0.40 before facing a sharp rejection. This aligns with past price cycles where significant upward momentum meets resistance, leading to corrective pullbacks. The peak at $0.40 coincides with a previous supply zone, which historically acted as a strong resistance point.
Following this rejection, the price retraced to $0.23, a key level that previously served as a demand zone. As seen in the TradingView chart, the price briefly consolidated before making another lower high at $0.33, forming a downward structure. The inability to break higher suggests sellers are still in control, at least in the short term.
Major Support Levels and Potential Accumulation Zones
HBAR’s pullback has brought it to an important support region around $0.19-$0.20, where previous price action saw strong buying interest. This level aligns with prior accumulation zones, which previously fueled breakouts. If buyers step in here, it could mark the beginning of another upward push.
If this support fails, a deeper retracement to $0.17 or even $0.15 could occur. Historically, price wicks in this range have indicated a high level of liquidity, meaning buyers could aggressively defend these zones. However, a breakdown below $0.15 would be concerning, potentially signaling a prolonged bearish phase with further downside toward $0.12-$0.13.
The Next Move for HBAR: Bullish or Bearish?
HBAR is currently at a make-or-break point. If the price stabilizes above $0.19 and begins to climb, it could attempt another move toward $0.25-$0.28. A breakout above $0.30 would indicate a trend shift, potentially paving the way for another test of the $0.40 resistance.
On the other hand, failure to hold $0.19 may push the price lower, forcing traders to reconsider their positions. A move toward $0.15 would need strong buying pressure to avoid further losses. For now, traders should watch for confirmation signals at these key levels before making major decisions.
The Origin of Hedera Hashgraph
Hedera Hashgraph was developed by Leemon Baird and launched by Hedera in 2018 as an alternative to traditional blockchains. Unlike typical proof-of-work or proof-of-stake networks, Hedera uses a unique hashgraph consensus mechanism, allowing for faster transactions and greater efficiency. Its enterprise partnerships and growing ecosystem make it an interesting project to watch in the crypto space.
