HBAR price is near a strong support area.
Hedera (HBAR) has recently seen a continuous price decline and is currently testing a key support area. The market is starting to focus on whether this is the starting point for the next wave of rise. According to technical chart analysis, if bulls defend this level successfully, it is expected to rebound to around $0.22 in the short term, representing an increase of over 30% from the current price (around $0.167).
Technical Analysis Highlights
- Golden Ratio and VWAP overlapping support: Currently, HBAR is at the 0.618 Fibonacci retracement level, which is also the dynamic support zone of VWAP (Volume Weighted Average Price). This dual support structure is often seen as an ideal area for a bullish rebound.
- Short-term oversold signals appear: As selling pressure eases, several lower-cycle indicators have entered the oversold zone, indicating that selling momentum is weakening.
- Potential rebound target: If support holds, the next technical resistance point is at $0.22, which is also the supply zone at the daily level in the past and the previous peak, becoming the target area of interest for medium to short-term traders.
Price trend structure
Despite the recent significant pullback, overall, HBAR still maintains a consolidation trend. This decline may just be a normal correction within the rising trend, rather than a reversal signal. In addition, the trading volume has significantly decreased, selling pressure has eased, and with the price touching a key support position, these conditions lead the market to hold a cautiously optimistic expectation for a technical rebound.
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Summary
If the price can gain effective support in the current area, along with a volume increase to attack, there will be a chance to confirm this is the starting point of a new rising segment. Once buying pressure enters and breaks through the initial resistance zone, it is expected to test the important level of around 0.22 USD to the upside. Overall, if HBAR can maintain the support zone at this stage, it may become the technical starting point for the next wave of rise.
