- HBAR nears key $0.24 support amid growing bearish market pressure.
- Volume and open interest drop, showing weaker speculative trading activity.
- Technical indicators suggest a reversal is possible, targeting $0.308 and $0.322.
Hedera’s native cryptocurrency, HBAR, has been building mounting pressure. The current slide pushed the cryptocurrency dangerously close to a significant technical support area at $0.24, and traders and analysts suspect that another sell-off could be just around the corner.
There are, however, some signs within the market that a reversal could be just around the corner, despite the present near-short-term bearish trend.
HBAR is trading at $0.2648, with a 24-hour decline of 3.07%. While this drop is a part of a broader market slowdown, a 3.06% drop across the week suggests increasing selling pressure as investors are still reeling from Bitcoin’s fresh pullback, taking a heavy toll on altcoins.
Volume and Open Interest Drop, Reflecting Weaker Speculation
The 24-hour trading volume for HBAR has declined by 21.77%, now sitting at $867.41 million, signaling a slowdown in investor activity. More notably, open interest has dropped by 8.57% to $407.69 million.
This means fewer traders are participating in futures markets, likely due to caution around further downside risk.
The Open Interest Weighted (OI-weighted) figure is currently at 0.0103%, showing that leverage in the market is low.
The recent flattening of this metric suggests that traders may be stepping back after several weeks of aggressive speculation, awaiting clearer signals before making high-risk moves.
Also Read: Hedera (HBAR) Eyes $1 After 800% Climb: Mainnet Upgrade Sparks New Hopes
HBAR Technical Indicators Hint at Possible Reversal
Despite the bearish price action, several technical indicators offer hope for a reversal. The Relative Strength Index (RSI) currently sits in the low-to-mid 60s, indicating that the market is not yet oversold.
This suggests room for buyers to step back in and push the price higher. Meanwhile, the MACD indicator remains relatively flat, hinting at price consolidation rather than further breakdown.
The Bollinger Bands are narrowing, which could lead to a volatility squeeze and potential breakout in either direction.
For bullish momentum to resume, HBAR would need to reclaim the $0.274–$0.280 range and eventually break through the $0.308 resistance. If that happens, traders will likely target $0.322 and even $0.40 as the next key resistance levels.
Temporary Pullback or Beginning of a Downtrend?
While HBAR’s short-term trend remains bearish, key indicators suggest a potential bottoming pattern near the $0.22–$0.25 support zone. If that support holds and volume picks up, a reversal is likely in the near term.
However, continued weakness in Bitcoin or a breakdown below support could trigger further downside, making it crucial for traders to monitor both macro trends and technical confirmation closely.
For now, the outlook is cautiously optimistic, with traders watching for any signs of renewed strength in volume, open interest, and price action.
Also Read: Hedera (HBAR) Open Interest Jumps 51%; Price Breakout Signals $0.30 Ahead
