HBAR Token Price Below Ichimoku Cloud, Bears in Control
HBAR Token Price– The HBAR token price is nearing its year-to-date low as liquidity across the Hedera network diminishes. According to DefiLlama, the stablecoin supply on Hedera has plunged to $41 million — its lowest level in 90 days — marking an over 80% drop from last month’s peak of $216 million. This significant decline points to reduced demand for on-chain liquidity and a broader slowdown in network activity.
Stablecoins serve as an important indicator of market participation and capital flow. Therefore, this steep reduction suggests fewer users are engaging in transactions or deploying capital within the Hedera ecosystem. As a result, the demand for HBAR weakens, intensifying the downward pressure on its price. Without a revival in stablecoin activity, HBAR may continue to experience selling pressure in the near term.
Technical Resistance Confirmed by Ichimoku Cloud
HBAR’s price has fallen below the Ichimoku Cloud, a key momentum indicator used to identify support and resistance zones. Currently, the cloud’s Leading Spans A and B create resistance around $0.15 and $0.17, respectively. When an asset trades beneath this cloud, it reflects bearish market conditions characterized by weakening demand and rising sell-offs.
For HBAR, these resistance levels at $0.15 and $0.17 represent critical hurdles. Remaining below these zones suggests the token’s decline could persist if it fails to break above them.
Approaching Crucial Support at Year-to-Date Lows
At present, HBAR trades slightly above $0.13, which serves as a key support level and represents its lowest price so far this year. Should market demand further decrease, the token risks revisiting this critical floor and possibly falling even lower.
However, a turnaround could occur if buyers re-enter the market. Increased accumulation may challenge the current bearish trend, with potential to push HBAR above the immediate resistance near $0.15. Successfully surpassing this level could open the way for a rally towards $0.17.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
