Is Hedera About to Break Down? | Credit: Hameem Sarwar
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Key Takeaways
Hedera (HBAR) has developed a bearish head-and-shoulders formation.
The token appears to be in wave C of an A-B-C corrective structure.
Could HBAR still aim for a new all-time high in 2025?
After a massive surge in June and a peak at $0.299 in mid-July, Hedera (HBAR) momentum has slowed, and technical signals have turned negative.
The price recently printed a bearish head-and-shoulders setup, hinting at the risk of more downside in the short term.
With weakening momentum, HBAR is primed for a short-term pullback before bulls can take over again.
Hedera’s Bearish Pattern
Hedera’s June rally culminated with a high of $0.299 on July 18.
Although the token briefly reached a higher high a week later, the momentum faded quickly.
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If that happens, the maximum decline would be a 30% drop to $0.160, but a shallower retracement could take the price to the 0.618 Fibonacci retracement at $0.194.
Momentum readings back up the bearish case: The Relative Strength Index (RSI) is falling, and the Moving Average Convergence Divergence (MACD) continues to decline.
In conclusion, the daily technical analysis gives a bearish Hedera prediction, suggesting the price will soon break down from its pattern.
HBAR Breakdown Incoming?
The wave analysis adds another bearish layer to the outlook, suggesting that the Hedera price is in the final portion of its correction.
The HBAR price completed a five-wave upward movement on July 27 and has started a corrective structure afterward.
The most likely structure suggests HBAR is in wave Y of a W-X-Y correction
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
