The sell-off pressure in the cryptocurrency market has been making itself felt again in Hedera Hashgraph’s native token, HBAR, over the past 24 hours. Notably, short-term charts showed sellers gaining the upper hand toward the end of the day. This reflects the broader market weakness and signals that investors are taking a more cautious stance.
New price levels emerge in prolonged downtrend
Some analysts urge not to interpret the recent price drop as reason to panic. Technical analysis shared on X suggests that HBAR is still in a long-term descending trend, arguing that a true breakout has yet to occur and that a new buying opportunity could be in the making.
According to CryptoAppsy data, HBAR traded at $0.09095 during the day, marking a 1.74 percent loss over the past 24 hours. The daily low was $0.09064 while the high reached $0.09309. HBAR’s total market capitalization stands at $3.94 billion, with $64.29 million trading volume over the same period. The token supply in circulation currently clocks in at 43.32 billion.
HBAR’s current price movement places it 84.02 percent below its all-time high of $0.57 set in September 2021. Analysts note that this major price differential remains in focus as a key driver behind recent volatility.
Analyst warns value zone should be watched
A market observer known as COSMIC, posting on X, pointed out that HBAR could present significant long-term opportunities and the price seems trapped in what he calls a “value area.” In a shared chart, a large consolidation structure is evident, with a key threshold identified at $0.04801, below which the extremely low region around $0.00674 is highlighted as an area to monitor.
The analysis presented by COSMIC emphasizes that HBAR’s recent moves do not amount to a final drop, suggesting that the current prolonged consolidation and recent levels are not necessarily a “last chance” zone. Some investors are avoiding opening positions in haste, preferring to wait for a more distinct reversal before acting.
These remarks suggest the current price around $0.09 still carries risk from a long-term perspective, but that any deeper declines could spark fresh buying interest from new investors.
Support levels tested as short-term pressure mounts
Short-term technical analysis indicates that the HBAR/USDT pair slipped back below $0.0900 toward the end of the trading day, hitting $0.08936. As the session wore on, steadily falling prices triggered a stronger downward momentum.
According to TradingView analysis, while the MACD indicator remained slightly in negative territory, the histogram signaled a mild recovery. Nevertheless, the technical picture continues to point to persistent selling, with no strong confirmation yet of a trend reversal.
A surge in trading volume by the end of the day reflects increased market activity compared to the initial stages of the sell-off. Support is monitored at the $0.0890 to $0.0900 band, while short-term resistance lies at $0.0915 and the daily high at $0.09309. Many investors appear to be acting with caution in the short term, but continue to position themselves for possible longer-term opportunities.
