- HBAR continues consolidating above a falling wedge support structure
- Analysts identify $0.103 as the next major resistance level
- A break below $0.087 could trigger downside toward $0.078
HBAR remained under pressure during the latest session, yet analysts continue watching a potentially bullish recovery structure forming on higher time frames. The token traded near $0.0916 at press time, down 2.64% over the past 24 hours. Despite weak momentum, chart analysts believe HBAR could rebound if buyers continue defending the critical support region between $0.088 and $0.090.
HBAR Consolidates Above Falling Wedge Support Zone
Technical analyst Butterfly noted that HBAR is consolidating above a falling wedge pattern on the two-day chart. The structure is often associated with reversal setups after prolonged downtrends. According to the analyst, bullish momentum has started improving, with the price attempting to stabilize after months of weakness.
The current support range remains the key area traders are watching closely. HBAR has repeatedly defended the $0.088 to $0.090 zone during recent pullbacks. Holding above this region could allow the asset to attempt another move toward resistance near $0.103.
The Relative Strength Index also reflects weakening momentum, though not yet oversold conditions. The seven-day RSI currently sits at 36.45, suggesting sellers still maintain partial control. However, stabilization above support may encourage buyers to re-enter the market.
HBAR Faces Resistance While Recovery Structure Remains Weak
More Crypto Online shared a more cautious outlook for HBAR despite the ongoing consolidation. The analyst stated that the current rebound from the March and April lows still lacks strong impulsive behavior, which is typically needed for sustained bullish continuation.
The leading scenario still allows for another upward extension toward the yellow trendline and the $0.103 resistance level. However, this outlook depends heavily on whether HBAR can continue holding above the current support region.
A breakdown below the recent swing low near $0.087 would weaken the short-term recovery structure significantly. Analysts warn that losing this level could trigger a decline toward the next major support around $0.078.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
