Hedera HBAR Struggles to Find Support as Bearish Momentum Persists
Hedera's HBAR token is facing continued downward pressure as it fails to reclaim crucial support levels. The cryptocurrency is currently trading around $0.12, reflecting a 3.11% decline over the past 24 hours. Market participants are closely monitoring for signs of renewed demand.
Technical analyst Popeye points out that HBAR remains below a critical support/resistance flip zone, indicating a bearish larger structure. The analyst suggests that a retest of the demand zone that fueled HBAR's last major rally is likely.
A significant Fair Value Gap (FVG) below current prices suggests further downside potential. According to market mechanics, such imbalances typically need to be filled, reinforcing the corrective pattern visible on daily charts.