Hedera's native token HBAR trades under sustained bearish pressure after multiple failed attempts to breach the $0.2155 resistance level. The cryptocurrency has moved sideways in recent sessions as October begins with weakness across digital asset markets, and technical indicators now point to the possibility of a decline toward price levels not seen since early summer.
What to Know:
- HBAR has repeatedly failed to break above $0.2155 since September, turning that price into a confirmed resistance ceiling
- The Chaikin Money Flow indicator approaches the zero line, signaling that selling activity may overtake buying pressure
- A breakdown below $0.2074 could push the token toward $0.1944, its lowest level in three months
Technical Indicators Point to Continued Weakness
HBAR's inability to push past the $0.2155 threshold reflects exhaustion among buyers. That price point, tested multiple times since September without success, has solidified as a short-term ceiling. Each rejection at this level strengthens the argument for a bearish breakdown rather than an upward continuation.
The token's Chaikin Money Flow indicator, which tracks the balance between capital entering and exiting an asset, stands poised to drop below the zero line.
This measurement serves as a gauge of whether accumulation or distribution dominates market activity. A move below zero would confirm that sellers currently outweigh buyers, increasing the likelihood of a breakdown from HBAR's narrow trading range.
HBAR continues trading beneath its 20-day Exponential Moving Average, currently at $0.2230. This moving average acts as dynamic resistance above current prices. The sustained position below this technical level indicates that downward pressure maintains control over near-term price action, and any recovery attempts may struggle to gain traction.
Understanding Key Technical Terms
The Chaikin Money Flow indicator combines price and volume data to assess buying and selling pressure. Values above zero suggest accumulation, while readings below zero indicate distribution. The indicator's approach toward the zero line from above signals a shift from net buying to net selling.
The Exponential Moving Average differs from a simple moving average by assigning greater weight to recent price data. The 20-day EMA represents the weighted average price over the past 20 trading sessions. When an asset trades below this level, it typically indicates that sellers control the market and that rallies face resistance.
Price Outlook and Key Levels
A breakdown below the immediate support at $0.2074 would open the path toward $0.1944, which represents the three-month low. That level would mark a significant retreat from recent trading ranges and could trigger additional selling pressure from traders watching key support zones.
However, if HBAR maintains its position above $0.2074, the token could avoid a deeper decline. Holding that support level might set the stage for a rebound attempt toward the $0.2155 resistance. A clean break above $0.2155 would invalidate the current bearish setup and could propel the token toward $0.2366, though such a scenario requires a shift in momentum that current indicators do not yet support.
Closing Thoughts
HBAR faces mounting bearish pressure as technical indicators signal seller dominance, with the token struggling below both the $0.2155 resistance and its 20-day moving average. A breakdown below $0.2074 could accelerate losses toward the three-month low of $0.1944, though maintaining support offers the possibility of a recovery attempt.