Hedera Hashgraph Price Action Signals Uncertainty Amid Market Pressure
Hedera Hashgraph (HBAR) is facing significant selling pressure as its price tests a crucial support zone near $0.227. The recent downward move comes after a strong rally in July, which was followed by a period of consolidation and repeated rejection from higher resistance zones.
According to the latest 4-hour chart data, HBAR is currently hovering around the green support zone between $0.225 and $0.235, a level that has acted as a strong demand area in previous sessions. On the upside, major resistance lies at $0.260 and $0.285, marked by the red supply zones where sellers previously stepped in aggressively.
If HBAR fails to hold this critical support, analysts warn that the price could slide further toward the psychological level of $0.20. On the flip side, a rebound from this level could set the stage for another retest of the upper resistance zones.
“The market is in a wait-and-watch mode right now. If HBAR breaks below this support with strong volume, it could trigger a deeper correction,” noted BITX technical analyst tracking altcoin trends.
Volume data also suggests waning bullish momentum, as recent sell-offs have been accompanied by increased trading activity, signaling potential distribution by larger players.
However, some market participants believe the current level offers a favorable risk-to-reward ratio for long-term investors. “As long as the $0.225 level holds, there is room for a technical bounce, especially if Bitcoin maintains stability,” BITX analyst commented.
For now, traders are closely monitoring price action within this demand zone. A decisive move either way could set the tone for the next major trend. If buyers defend the support strongly, a push back toward $0.26–$0.28 is possible. Conversely, a break below could expose HBAR to further downside risks.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.