HBAR Price Analysis: Hedera Slides 1.74% as Support Comes Into Focus

Market sentiment remained weak, and it appeared that the sellers were resuming control on short-term charts late in the day.

Meanwhile, a longer-term chart posted on X had another take on the latest decline. The post called for the latest weakness to be taken as part of a pattern, rather than a breakdown in and of itself, as HBAR could be on the way to a deeper value entry point while the price remained compressed within a longer-term downtrend.

Long Slide Attracts New Attention

According to market data, HBAR was trading at $0.09095 on the day, down 1.74% in the past 24 hours. It hit a low of $0.09064 and a high of $0.09309 during the 24 hours; market capitalization was $3.94 billion, and the 24-hour volume was $64.29 million. The total supply was 43.32 billion HBAR.

These figures on BraveNewCoin data indicate an active but not a particularly strong market. The price of HBAR is well below its all-time high of $0.57 in September 2021, with the price sitting around 84.02% lower. This longer-term difference continues to influence the view on recent movements.

Analyst Chart Shows a Value Zone

A tweet from COSMIC on X noted that HBAR was an interesting coin to watch for “some deep value entries” and included a chart that showed a long compression. The chart depicted a large descending structure that was contracting down to a lower level, with a defined zone near $0.04801 and a lower level to watch at $0.00674.

Additionally, the position on the Cosmic X chart is clearly more long-term and bearish than the current price. But it indicates some traders aren’t viewing HBAR’s current levels around $0.09 as a “last chance” washout. They are waiting to see if the structure will continue to break down before a major reset and/or recovery occurs.

Short-term Technicals Stay Weak

Meanwhile, the technical chart provided a closer view. At the time of writing, HBAR/USDT was trading below the intraday market data spot price at $0.08936, after a late-day move that dropped the token below $0.0900. The price retreated steadily during the day, falling faster towards the end.

According to TaradingView, momentum remained weak. The MACD line was still just negative at about -0.00021, just below the signal line at about -0.00022, with the histogram finally turning slightly positive.

This shows the market is merely recovering from a steep decline, rather than reversing its direction. In fact, volume increased during the late selloff, indicating the end of the move down had more activity than the previous part of the day.

In terms of the next potential support zone, it’s now at $0.0890 to $0.0900, with resistance starting at $0.0915 and then the session high at $0.09309. HBAR remains above the 24-hour low, but the chart indicates the buying trend is not back yet. For the time being, Hedera is still in a short-term vulnerable position, with investors ranging from short-term cautious to long-term value-seeking.