Hedera (HBAR) Price Prediction: Token Under Threat of 18% Decline to $0.26

Since January 17, Hedera (HBAR) has been on a downward trajectory, shedding 20% of its value as selling pressure intensifies.

Hedera (HBAR) price has been on a downtrend since January 17th, with a 20% decline amid increasing selling pressure.

The altcoin has been trading below a descending trendline since then, indicating persistent bearish sentiment in the market.

As demand for the altcoin continues to decrease, HBAR risks extending its price drop.

BeInCrypto examines the crucial levels to watch for in this analysis.

Hedera bears strong-arm market

BeInCrypto’s analysis of HBAR’s price performance on a daily chart shows that the altcoin has been trading below a descending trendline since January 17th. At press time, the token trades at $0.31, marking a 20% price decrease since then.

A descending trendline is a bearish pattern that connects a series of lower highs in an asset's price movement, indicating a consistent downtrend. When an asset trades below this trendline, it suggests that the price is under bearish pressure and the prevailing market sentiment is bearish.

The Awesome Oscillator (AO) reading for HBAR confirms this prevailing bearish sentiment. For context, this momentum indicator has been posting only red histogram bars since January 21st, indicating that HBAR has been trailing behind negative bias for a while.

An asset’s AO measures market momentum by comparing the difference between two simple moving averages (SMA) of an asset's price. When its bars are red, it indicates a shift towards bearish momentum, suggesting that sellers are gaining strength and the market may be poised for further downside.

HBAR price prediction: Token at risk of 18% drop to $0.26

If sellers continue to dominate the market, HBAR risks falling by 18% to trade at $0.26. According to its Fibonacci Retracement tool, if selloffs increase at this point, that support level may not hold, and the token’s price could drop further to $0.22.

However, a positive shift in market sentiment could prevent this from happening. If HBAR witnesses a spike in buying pressure, its price could rebound and climb toward its multi-year high of $0.40.