Hedera’s HBAR continues to trade under pressure as a persistent downtrend limits bullish attempts. Multiple breakout efforts have failed, preventing the altcoin from establishing higher levels.
The broader market environment has added tension, preventing HBAR from gaining traction despite a brief stabilization near key support zones.
Hedera faces a downtrend
Technical indicators show increasing bearish momentum. The Squeeze Momentum indicator was released early last week, leading to increased volatility. Instead of a bullish move, the release resulted in a sharp price drop, reinforcing negative sentiment among short-term traders.
Sponsored
Sponsored
The indicator’s histogram continues to deepen into bearish territory. This pattern suggests that selling pressure remains dominant. Strengthening bearish momentum reduces the likelihood of HBAR price recovery as traders hesitate to re-enter positions amid weak technical confirmation.
HBAR’s macro outlook is closely tied to Bitcoin’s performance. The altcoin currently shows a strong correlation of 0.79 with BTC. This relationship indicates that HBAR is largely reflecting Bitcoin price movements rather than acting independently.
Therefore, Bitcoin’s struggle to recover has weighed heavily on HBAR. When BTC lacks momentum, correlated assets often face similar limitations. Unless Bitcoin experiences a sustained rebound, HBAR’s ability to break its downtrend remains limited by broader market weakness.
HBAR Price Could See Further Drop
HBAR is trading near $0.111 at the time of writing, holding slightly above the $0.110 support. The token fell 24.5% early last week after failing to escape its month-long downtrend. Current price developments suggest a cautious stabilization rather than a reversal.
Given the prevailing conditions, HBAR may continue to struggle below the $0.120 level. Persistent bearish momentum could drag the price towards $0.099. A move to this area would extend losses and reinforce the bearish trend that has dominated the last few trading sessions.
A bullish alternative depends on new investor inflows. Increased buying interest could help HBAR recover $0.120 and break free from its descending structure. A sustained push towards $0.125 would invalidate the bearish thesis and signal improved confidence among market participants.