Hedera remains under pressure due to macro uncertainty and Bitcoin weakness, reflecting a broader downbeat backdrop for crypto. While longer-term prospects for Hedera appear positive, market headwinds are weighing on near-term recovery attempts.
HBAR continues to trade within a clearly defined down-channel, with the channel top near $0.1290 acting as a cap for upside moves. The pullback extended toward around $0.0893 as demand waned, and momentum remains tilted to the downside. An immediate support near $0.0786 could spark a brief rebound if buyers emerge.
A breakout from the down-channel could unlock roughly a 31% rally, potentially pushing HBAR toward $0.1252 in the short term and opening room for further recovery. The pattern suggests a bullish outcome if resistance fails at higher levels. Derivatives data show negative funding rates over the last 48 hours, signaling persistent bears as price attempts to stabilize. Negative funding implies shorts pay longs, reinforcing downside pressure, though crowded shorts can trigger a sharp reversal if sentiment shifts.
HBAR’s correlation with Bitcoin remains high, roughly 0.96, suggesting BTC moves could lift altcoins like HBAR if market conditions improve. However, BTC’s continued weakness could delay Hedera’s rebound.
As of now, HBAR trades near $0.0895, just below the $0.0907 resistance. If price steadies above $0.0907, the next target could be around $0.1029. If not, a slide toward $0.0832 could unfold, with deeper downside risk toward $0.0710 if momentum deteriorates.
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