Hedera HBAR Faces Bearish Pressure: Key Support at $0.23 Tested Multiple Times

[TRADE_PLUGIN]HBARUSDT,HBARUSDT[/TRADE_PLUGIN] Hedera HBAR News - Hedera's HBAR token is experiencing significant downward pressure, mirroring broader cryptocurrency market trends. The asset has declined 9.98% in the last 24 hours and 9.55% weekly, currently trading at $0.2183 with a market capitalization of $9.25 billion. Technical indicators reveal bearish signals as the 20-day moving average ($0.23) crosses below the 50-day MA ($0.24). Market sentiment remains cautious with HBAR trapped between key support at $0.23 and resistance at $0.26. A decisive breakout above $0.26 could propel the token toward the $0.28-$0.30 range. Trading volume has surged 53.6% to $269.3 million, suggesting increased activity despite the price decline. The $0.23 support level has been tested five times, establishing it as a critical threshold for bullish recovery.