Will HBAR Break Down From Its Long-Term Support? | Credit: Hameem Sarwar
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Key Takeaways
Hedera (HBAR) trades inside a long-term descending triangle.
The HBAR price risks breaking down from a 380-day support area.
Will HBAR bounce, or is a breakdown and crash inevitable?
Hedera’s price is under severe pressure, and its long-term support is now hanging by a thread.
After more than a year of holding the same critical level, HBAR is suddenly at risk of breaking down, a move that could trigger one of its largest crashes of the cycle.
So why is HBAR going down, and what does the latest technical structure reveal about the next big move?
More recently, the trend line rejected the price in July, triggering the ongoing downward movement.
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A year-long support zone is about to be tested, momentum signals are bearish, and the Elliott Wave count suggests that the final leg of a larger downtrend is underway.
Unless bulls defend $0.135 decisively, Hedera is positioned for a sharp move lower, potentially dropping toward $0.10 or even $0.065 in the coming weeks.
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.
