Hedera HBAR Dips 3.45% to $0.1495, Analysts Spot Bullish Divergence for Potential Rebound
Hedera Hashgraph's HBAR token fell 3.45% to $0.1495 amid a broader market correction, with its market cap settling at $6.36 billion. Trading volume reached $352.29 million as the cryptocurrency entered a consolidation phase, now holding 0.20% of total crypto market dominance.
Technical indicators show promising reversal signals, with daily RSI charts revealing hidden bullish divergences. Market analysts anticipate a potential bottom forming between $0.12 and $0.14 before any sustained recovery. ChartNerd, a prominent crypto analyst, maintains longer-term Fibonacci targets between $1.20 and $1.80 if HBAR regains bullish momentum.
The token has re-entered a descending price channel following last week's flash crash—an event described as anomalous by market observers. The current pullback appears to complete what technical analysts identify as Wave 2 in HBAR's Elliott Wave trajectory.
