What to know:
- HBAR price tests a major multi-year support zone as a falling wedge pattern forms.
- RSI nears historical reversal levels, raising hopes of a relief rally.
- Selling pressure appears to be easing, with MACD showing early recovery signals.
Hedera (HBAR) price continues to struggle amid months of weakness, but the latest technical readings indicate that the crypto is getting close to a critical point. Despite the overall bearish trend, the focus of many investors now lies on an important support level for the token.
At the time of writing, HBAR is trading at $0.07899, with a 24-hour trading volume of $79.06 million and a market capitalization of approximately $3.45 billion. The HBAR price has declined 1.08% over the last 24 hours, extending its recent period of sideways movement.
Over the longer term, the HBAR price has declined by 4.72% over the last week and 10.50% during the last month. The decline shows that the token is still in its consolidation stage, and the bulls and bears have yet to find their footing.
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HBAR Price Approaches Multi-Year Support Zone
On June 22, 2026, the crypto analyst Token Talk observed that the HBAR price is testing a significant support level where there has been considerable interest from buyers in the past. The crypto analyst says that a falling wedge pattern has been formed in the chart of the token.
He further mentioned that the Relative Strength Index (RSI) is also trading around a level that was indicative of significant bottoms in the past. This scenario of support, coupled with weakening selling, has heightened hopes of a relief rally for the HBAR price.
However, the support zone is still very important. In case the buyers manage to hold the present zone, HBAR may try a move towards higher resistance levels.
Technical Indicators Suggest Selling Pressure Is Easing
The latest technical analysis reveals that the price of HBAR is currently moving along with the lower bound of its Bollinger Bands. In other words, the lower bound is currently situated at $0.07661, whereas the middle one is located at $0.08040. It may be stated that proximity to the lower bound implies a weakening of selling pressures.
If positive momentum needs to be boosted, there is a chance that the HBAR price will have to rise past the $0.08420 level.
Meanwhile, the MACD indicator shows initial signs of recovery. Its histogram has started moving into the positive zone at 0.00018, and the value for its MACD line is -0.00215 as compared to the signal line, which is at -0.00233.
While confirmation is yet to be done, from what is seen currently, HBAR appears to be building a base for its rebound in case the buying momentum continues. As the HBAR price is approaching an important support level, it will be interesting to see how well it will stay in its place and begin bouncing.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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