One is profoundly unsurprised, naturally, to discover that Hedera Hashgraph, or HBAR as the moderns call it, has begun to exhibit the most tiresome of weaknesses. Rejected by resistance, it has lost its footing – a rather clumsy performance, don’t you think? – and now descends towards the distinctly unglamorous support level of $0.18. One sincerely hopes it finds a foundation there, lest it prove to be a most regrettable collapse.
- HBAR, poor dear, was quite rudely dismissed from its lofty aspirations at $0.26.
- A correction to $0.18 is predicted – a convergence of…technicalities, if one must.
- Remaining within the bounds of $0.12 and $0.26 suggests a distinct lack of imagination.
It appears HBAR has suffered a momentary lapse in enthusiasm, succumbing to the inevitable rejection from the value area high. The former support at $0.26, now transformed into a rather impolite resistance, hints at a continuation of this downward trend. The rally, alas, was built on air, devoid of structural integrity, leaving a rather disheartening vacuum beneath it. 🧐
The rejection, so decisively delivered, confirms a new swing high and introduces a rather unwelcome dose of bearish pressure. With no proper support established during its previous, frankly rather breathless, ascent, HBAR is now exposed – tragically so – to a correction all the way down to the point of control, currently residing around the $0.18 mark. It’s all quite dreadful, really.
Key technical points:
- Rejection from Value Area High: A most uncouth dismissal from $0.26, naturally.
- Lack of Built-Up Support: The impulsive rally, sadly, left a rather empty space.
- Point of Control + Fibonacci Support: $0.18, a confluence, offers a glimmer of hope… perhaps.
Structurally speaking, the price action whispers of a broader range – a distinctly *unambitious* range, between $0.12 and $0.26. The failure of $0.26 to uphold its duty as support confirms this rather mundane state of affairs. Continued descent below this resistance suggests…well, more descent. One shudders to think!
The $0.18 level, a meeting place of the point of control and the 0.618 Fibonacci – a rather complex arrangement for a simple cryptocurrency, don’t you agree? – presents the first opportunity for bulls to recapture some semblance of control. If HBAR manages to establish a base there, a higher low may emerge, allowing for a resumption of the upward climb. But, of course, failure to defend $0.18 will open the floodgates to further woes, dragging price back towards the dreary depths of $0.12. 😩
While short-term prospects appear bleak, the long-term structure remains, shall we say, salvageable, provided this correction results in a healthy reset rather than a complete breakdown. One advises traders to observe the price’s reaction to the $0.18 region with the utmost attention over the coming days and weeks. It promises to be… fascinating. Or, at the very least, mildly diverting.
What to expect in the coming price action:
HBAR is predicted to continue its descent towards $0.18, where, hopefully, some form of resistance will be encountered. A bounce here could restore a modicum of bullish spirit, while a failure to hold will undoubtedly lead to further decline towards the $0.12 range. Oh, the drama! 🎉
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2025-07-23 21:01