Hedera (HBAR) is facing challenges, with its price down 4.52% over the past 24 hours, currently trading at $0.053. Despite recent institutional partnerships, such as Copper’s integration of HBAR staking services, the token has been unable to overcome selling pressure. Key support levels are at $0.045, with resistance at $0.089, suggesting that HBAR is likely to trade within this range in the near term. Market sentiment remains cautious, as the token is still down more than 90% from its all-time high.
Technical analysis shows that HBAR is in a consolidation phase, with narrowing Bollinger Bands suggesting reduced volatility. The Relative Strength Index (RSI) is currently neutral, indicating that HBAR could move in either direction depending on broader market conditions. The token’s long-term potential is supported by its use in real-world asset (RWA) tokenization, which has been a growing trend in the cryptocurrency space.
Despite the current bearish trend, institutional interest in HBAR continues to grow. The token’s ability to attract corporate investors and integrate into real-world applications could help it recover in the coming months. However, in the short term, traders should be cautious and monitor key technical levels to determine the token’s next move.