Pi (PI) surpasses HBAR in market cap, but declining volume raises concerns.

HBAR faces bearish pressure, struggling to hold key support at $0.230.

Hedera (HBAR) price is facing bearish pressure as it struggles to hold a key support level and a recent attempt to rally fizzled out. Meanwhile, Pi (PI) is showing signs of price recovery but faces a crucial resistance point.

HBAR Struggles To Hold Key Support At $0.230

Hedera price has been struggling lately, dropping below a crucial support level at $0.230. This decline continues a bearish trend that began after HBAR failed to break out of the strong resistance at $0.250.

After HBAR dropped below $0.230, sellers pressed further, pushing the price down to a low of $0.223. However, buyers managed to step in and prevent further declines, staging a recovery rally that reached as high as $0.238.

Despite this rally, sellers emerged again, putting pressure on the bulls and ultimately pushing the price back down. At the time of writing, HBAR is trading at $0.227, indicating that sellers are still in control.

As HBAR price slides further, another support level at $0.220 could offer some respite to the beleaguered bulls. However, if sellers manage to push through this level, the next significant support zone lies at $0.200.

On the other hand, if the bulls manage to stage a comeback and push through the strong resistance at $0.250, the next resistance level to watch out for lies at $0.280.

On December 7, HBAR's market cap is $2.46 billion, ranking 64th, according to CoinGecko.

Pi Price Recovery Hinges On Breaking $1.85 Resistance For Further Upside

Pi price shows some signs of recovery after a period of decline. The price is currently trading at $1.79, showing a 1.99% increase over the last 24 hours.

The total market cap of PI is $12.41 billion, ranking 17th, having risen 0.72% over the last 24 hours.

The trading volume of PI has decreased by 26.98% to $845.56 million in 24 hours.

The price chart shows that the price dropped sharply before staging a rebound. This rebound was met by sellers at the $1.85 level, leading to a pullback in recent days.

However, the price is now showing signs of breaking through the $1.85 resistance, which could open the door for further upside potential.

The next crucial resistance level to watch out for is at $2.00, which could serve as a final seller outpost before a clear path to higher prices emerges.

On the downside, if the price drops from here, the next support level lies at $1.70, followed by a stronger support zone at $1.50.