Hedera Hashgraph Bounces From $0.22 Zone, Resistance at $0.26 Looms
Hedera Hashgraph (HBAR) climbed nearly 5% in the past 24 hours, rebounding from its $0.22 support zone to trade around $0.234. The recovery comes after weeks of selling pressure that dragged the token from its $0.30 highs in August, raising hopes of a short-term bottom forming.
The daily chart shows HBAR previously breaking out of a descending channel in July, which sparked a rally toward $0.30. However, since late August, sellers regained control, pushing the price back into the green demand zone between $0.21 and $0.23. This area has now become a critical support level for bulls.
“HBAR’s ability to hold above $0.22 is encouraging,” According to BITX analysts. “If buyers can sustain this rebound, a move toward $0.26 and eventually $0.28 could follow.”
Resistance is now seen near $0.26, which aligns with the first supply zone, followed by heavier selling pressure expected around $0.29–$0.30. Breaking above these levels would confirm renewed bullish momentum.
On the downside, failure to defend the $0.21–$0.22 range could expose HBAR to deeper losses toward $0.18, a level last seen before its July breakout.
Volume data indicates moderate buying activity during the latest bounce, though still below the spikes observed in July’s rally. This suggests cautious optimism among traders, with many waiting for confirmation above resistance before entering fresh positions.
“The $0.26 resistance is the real test for HBAR,” BITX expert explained. “A clean breakout with strong volume could shift sentiment decisively back in favor of bulls.”
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.