Hedera HBAR Tests Critical Support as Market Volatility Intensifies
Hedera's HBAR is facing short-term bearish pressure, declining 3.47% to $0.1327 after breaking below the 20-week Simple Moving Average. The Relative Strength Index is approaching oversold levels, with momentum indicators signaling caution. A critical support level sits at $0.129—a key price point that will determine whether the token revisits accumulation zones between $0.100 and $0.067.
Long-term bulls are eyeing a potential rally toward the $1-$2 range if the $0.06 support level holds firm. This technical analysis comes as Archax Exchange executes the first on-chain transaction of the tokenized Canary HBR ETF on Hedera's network—a Thanksgiving trade that highlights blockchain's capability for 24/7 market operations.
The transaction underscores growing institutional interest in regulated blockchain-based financial products, which provide continuous liquidity even during traditional market closures. Hedera's network demonstrates its utility beyond speculative trading, though HBAR's price action remains closely tied to broader cryptocurrency market sentiment.
