HBAR climbed 2.38% to $0.144 as trading volume jumped 59% above its weekly average, thanks to Axelar’s new integration that connects Hedera to over 60 blockchains.
Despite the catalyst, the token continued to lag the broader market, underperforming the CD5 index by 1.64% as capital shifted to other digital assets. Intraday volatility remained high, with a range of $0.0146 and a peak at $0.1555 before sellers pushed prices into a descending channel.
Support formed near $0.1410 as late-session buying stabilized the pullback. Short-term data showed a strong 60-minute reversal pushing HBAR from $0.1413 to $0.1443 on robust volume, reinforcing bullish momentum above newly established support. Nonetheless, the overall trend remains heavy, defined by the persistent highs and lows that have been shaping the market since September.
HBAR continues to trade below key EMAs, with the 20-day resistance at $0.155 and longer-term resistance reinforced by the 50- and 100-day EMAs at $0.174 and $0.189. The macro trend remains bearish; temper the optimism around the interoperability gains brought about by Axelar. Traders will be watching to see if the expansion of cross-chain liquidity can trigger a lasting structural resistance challenge.
Key technical levels signal mixed outlook for HBAR
Support/Resistance: Immediate support holds at $0.1410 with resistance at $0.1450; the main cap remains at $0.155 20-day EMA.
Volume Analysis: 59% surge above weekly average validates price action; a breakout volume of 6.8 million confirms the strength of the reversal attempts.
Chart Patterns: The descending channel dominates the 24-hour structure, while the ascending pattern emerges on a 60-minute time frame, suggesting a potential reversal.
Targets and Risk/Reward: Next resistance targets a range of $0.1450 to $0.1555; a break below $0.1410 triggers a test of the $0.125 demand zone.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
