Hedera (HBAR) has shown a short-term recovery from recent lows, but the overall price trend remains bearish. After finding support around the $0.128–$0.130 range in late June, HBAR staged a modest rebound. However, it failed to overcome key resistance levels and continues to trade below both the descending trendline and the 200-period moving average.
HBAR Performance in June
June was a challenging month for HBAR:
- Opened trading above $0.165 but quickly entered a downtrend.
- Mid-June saw prices plunge to $0.130, a multi-month low.
- A rebound from the $0.128–$0.130 support zone was short-lived, with resistance solidifying near $0.152.
- Monthly loss: 10–15%, with most trading confined to the $0.130–$0.150 range.
Despite broader market recovery efforts, HBAR underperformed compared to other altcoins.
Technical Analysis: HBAR Price Chart
Key Observations (4H Chart):
- Dominant downtrend persists.
- Current price below the 200-period SMA (~$0.159).
- Recent rejection at the descending trendline ($0.152) confirms seller control.
- Support levels: $0.144–$0.145 (critical); breakdown risks retesting $0.130.
- Indecision signals: Small-bodied candles, long upper wicks.
Monthly Technical Indicators
| Indicator | Value | Interpretation |
|---|---|---|
| ADX(14) | 41.49 | Strong bearish trend |
| CCI(14) | -94.59 | Bearish, nearing oversold |
| Ultimate Oscillator | 40.09 | Weak buying pressure |
| ROC | 0.302 | Slight upward momentum |
| Bull/Bear Power | -0.002 | Neutral bias |
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HBAR Price Forecast: July Scenarios
Bearish Outlook
- Breakdown below $0.144** could trigger a drop to **$0.120–$0.125.
- Low momentum and weak volume favor this scenario.
Bullish Outlook
- Break above $0.152** and the 200 SMA (~$0.159) may target $0.165–$0.170**.
- Requires significant buying volume and market shift.
Conclusion
HBAR remains in a consolidation phase with no confirmed reversal. Traders should monitor key levels ($0.130 support, $0.152 resistance) for directional cues.
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FAQs
1. Is HBAR a good investment for July 2024?
HBAR’s outlook hinges on broader market sentiment and its ability to break key resistance. Caution is advised until a clear trend emerges.
2. What’s the strongest support level for HBAR?
The $0.128–$0.130 zone has historically acted as robust support. A break below could signal further downside.
3. Can HBAR reach $0.20 in July?
Unlikely without a major catalyst. The token needs sustained buying pressure to overcome overhead resistance.
4. How does Hedera’s ecosystem impact HBAR price?
Network adoption and developer activity are long-term drivers, but short-term price often follows Bitcoin’s lead.
5. Should I buy HBAR now or wait?
Risk-averse traders may wait for a confirmed breakout above $0.152. Accumulating near $0.130 could suit long-term holders.
6. What’s the biggest risk for HBAR in July?
Continued sideways trading or a drop below $0.120 if bearish momentum resumes.