Hedera (HBAR) Faces Bearish Pressure as Key Support Levels Tested

Hedera (HBAR) is trading around $0.16, down 4.2% over the past 24 hours, as the broader crypto market experiences heavy selling pressure. The intraday chart shows a clear downtrend, with HBAR losing its early high near $0.184 and declining through multiple minor support zones, reaching a low of approximately $0.16—a nearly 12% swing from its peak. Volume spiked during sell-offs, aligning with downward price acceleration and confirming bearish momentum, while 24-hour volume increased by 18%, indicating elevated trading activity and distribution pressure.

Market structure reveals lower highs and lower lows, with the uptrend failing to break prior resistance, signaling a corrective bounce rather than a trend reversal. HBAR's market cap fell 4.5% to $7.05 billion, and the fully diluted value of $8.3 billion amplifies investor caution. Additionally, a bearish head-and-shoulders pattern is forming on the daily chart, with a neckline near $0.160; a break below this level could trigger a 28% decline to $0.113 or lower, exacerbated by high long liquidations on exchanges like Bitget, where longs outweigh shorts by nearly 25%.

Short-term outlook hinges on key levels: a recovery above $0.175 with strong volume could signal a trend reversal, but the bearish scenario remains more likely, with risks of further drops to $0.158 or $0.150 if support fails. On-Balance Volume (OBV) trends are weak, and a breakdown could accelerate selling pressure, leaving HBAR vulnerable to a long squeeze.