HBAR Price Eyes Crucial $0.22 Support Amid Mixed Technical Signals

Hedera Hashgraph finds itself at a pivotal juncture as near-term price action hovers around the critical $0.22 to $0.23 support zone.

Detailed analysis of recent trading charts highlights this level as a key battleground that will likely determine the token’s short-term trajectory. While bullish momentum showed promise in preceding months, recent retracement and indecision have led to cautious market sentiment.

Near-Term Support Holds the Key for HBAR Direction

A 3-day chart reviewed by Steph is Crypto underscores the significance of the $0.22–$0.23 support region. This area has historically acted as a reliable floor during previous consolidations and now serves as a decisive level for the next leg of price action. The sharp rallies seen through July and August eventually drew back into this range, putting buyers to the test.

Source: X

Steph is Crypto’s analysis suggests that if HBAR holds firm above this zone, it may mark the foundation for renewed bullish momentum, potentially driving the price toward previous highs in the $0.31 to $0.35 range.

Conversely, a decisive break below $0.22 would cast doubt on the bullish outlook and could pave the way for further declines toward the psychological $0.20 level. Given this, how the price closes in the coming days will be critical for traders looking to gauge the token’s direction.

Market Activity Reflects Consolidation and Uncertainty

Supporting data from BraveNewCoin offers a glance at HBAR’s recent trading statistics. The token is currently priced around $0.23, down roughly 4.7% over the past 24 hours, with intraday swings between $0.227 and $0.232.

Despite the slight dip, the asset retains its position as the 23rd largest cryptocurrency by market capitalization, valued near $9.63 billion, and enjoys a circulating supply exceeding 42 billion coins.

HBARUSD 24hr Chart | Source: BNC

The trading volume of nearly $350 million indicates significant activity, with an initial intraday rise to $0.228 followed by a rapid pullback to $0.227. This price movement suggests brief seller dominance, but the subsequent sideways fluctuations imply a consolidation phase. Such price behavior often signals market indecision, where neither buyers nor sellers firmly control the token’s direction.

Should buyers manage to defend the $0.23 level backed by solid volume, it may pave the way for upward momentum aligned with the bullish chart outlook. Conversely, a shift in volume toward aggressive selling could spell further downside pressure.

Technical Indicators Highlight Bearish Pressure Amid Rebound

Daily chart analysis from TradingView combines Bollinger Bands and MACD to provide a nuanced view of HBAR’s technical condition. Currently priced at approximately $0.2255, he cryptocurrency rests just above the lower Bollinger Band at $0.2230, signaling proximity to an oversold condition that often precedes short-term rebounds.

Source: TradingView

Nevertheless, bearish momentum persists as reflected by the MACD indicator. The MACD line remains below its signal line at –0.00372, compared to –0.00099, while the histogram stands at –0.00273.

This configuration affirms ongoing selling pressure, although the narrowing of histogram bars suggests momentum may be weakening. The technical setup requires caution, with traders advised to watch for signs of stabilization near the lower Bollinger Band.

A bounce from this support could prompt a recovery towards the basis line at $0.244, a key resistance level. However, should the memecoin fail to rebound, the next significant downside target is likely near $0.20, which would represent a deeper correction. Market participants will be closely observing these levels to assess short-term risk and potential opportunities.