Hedera (HBAR) Price Weakness Persists Amid High Bitcoin Correlation, Key Support Levels in Focus

Hedera's HBAR token continues to face price weakness, with its movement heavily influenced by Bitcoin's performance. The correlation between HBAR and Bitcoin remains strong at 0.87, indicating that HBAR closely shadows BTC's price action, which is currently struggling near $86,000. This dependency has prevented HBAR from staging a meaningful rebound, as broader market conditions turned bearish after a brief improvement.

Technical analysis reveals further challenges: the Chaikin Money Flow (CMF) indicator dropped to a seven-month low, falling below 0.18 before a slight climb, suggesting ongoing capital outflows despite historically favorable conditions for a bounce. At the time of writing, HBAR is trading at $0.132, slightly above the critical $0.130 support level. A breakdown below this support could push the price toward $0.120, extending the bearish trend.

On the weekly chart, HBAR is holding above the $0.143 support level, which has been defended by buyers through multiple tests. The price is consolidating within a narrow descending channel that forms a bull flag pattern, a bullish continuation structure. Resistance is framed at $0.1502, and a break above this level could open a path toward $0.162, invalidating the bearish outlook. The broader pattern includes a measured move projection targeting $0.90170, though this represents a long-term technical expectation.

The current price action, confined between $0.130 and $0.150, highlights HBAR's vulnerability to Bitcoin-led volatility. Investors are closely monitoring these key levels, as HBAR's fate remains tied to broader market movements and BTC's ability to recover bullish momentum.