Hedera’s HBAR token is trading at a pivotal support level near $0.234, facing bearish market sentiment and resistance challenges. The current price sits below the Value Area High (VAH) of $0.264, indicating prevailing negative momentum that could trigger further declines toward the $0.22 support zone.
The $0.285-$0.300 resistance range remains a significant barrier for HBAR’s upward movement. A decisive break below the $0.234 support may accelerate downward pressure toward $0.22—a level analysts suggest could offer strategic buying opportunities for traders.
Market participants are closely monitoring Bitcoin’s performance, as its fluctuations historically influence HBAR’s price action. Despite recent retracement from July’s $0.305 high, HBAR maintains an overall bullish market structure amid the current consolidation phase.