🔥 Key Takeaways
HBAR Price at Risk of Further Decline
HBAR, the native token of Hedera Hashgraph, has been struggling amid a prolonged downtrend. Over the past month, the token has lost 26% of its value, while its year-on-year performance shows a staggering 67% decline. This persistent weakness reflects dwindling investor confidence and reduced market participation.
Bear Flag Breakdown Signals More Downside
Technical analysis reveals a concerning pattern—a bear flag breakdown—which often precedes further downside. If the pattern holds, HBAR could face an additional 28% drop, potentially revisiting levels last seen in October 2024. Such a move would confirm the continuation of the broader bearish trend.
A Lone Outlier Offers Hope
Despite the grim outlook, one outlier factor provides a glimmer of hope. Whether it’s a potential network upgrade, institutional interest, or an unexpected market shift, this variable could disrupt the bearish trajectory. Traders should monitor developments closely for signs of a reversal.
What’s Next for HBAR?
HBAR’s fate hinges on whether buyers can defend key support levels. A failure to hold could accelerate losses, while a rebound above resistance may invalidate the bearish thesis. Given the current market structure, caution remains warranted.
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