HBAR Forms Falling Wedge as Bears Pressure Price Below Key Levels
Key Takeaways
- •HBAR slipped roughly 4% in the past 24 hours during the broader crypto market downturn.
- •A falling wedge pattern is forming, and holding above $0.066 would keep $0.072 as the first upside target.
- •If the decline continues, HBAR could revisit $0.059, a major demand level not tested in years.
- •On-chain and trading data remain cautious, with retail traders and whales not yet showing broad conviction that a bottom is in place.
- •Derivatives data stayed weak, with most liquidations coming from longs and short sellers still outnumbering HBAR longs.
Following the latest market downturn, Hedera’s native HBAR token fell alongside most large-cap cryptocurrencies, slipping by roughly 4% over the past 24 hours. Bulls now face pressure to defend the current structure before the altcoin breaks lower, especially as traders across the market continue to look for evidence that recent selling has run its course.
Technical Picture Puts HBAR at a Crossroads
If the current decline continues, HBAR could retreat to $0.059, revisiting a major demand floor that has not been tested in years. At the same time, the move lower has helped shape a classic falling wedge pattern, a setup traders often watch closely because it compresses price action as support and resistance converge.
$HBAR | Hedera HBAR is printing a textbook falling wedge 👀 Selling pressure is fading as price compresses toward the wedge apex, while buyers continue defending support aggressively. A confirmed breakout above the wedge resistance could shift momentum back to the bulls and… pic.twitter.com/L5XKBK36uB — Crypto With Gopal (@cryptowithgopal) July 28, 2026
$HBAR | Hedera HBAR is printing a textbook falling wedge 👀 Selling pressure is fading as price compresses toward the wedge apex, while buyers continue defending support aggressively. A confirmed breakout above the wedge resistance could shift momentum back to the bulls and… pic.twitter.com/L5XKBK36uB
In a recent analysis, crypto charter Gopal said, “Selling pressure is fading as price compresses toward the wedge apex, while buyers continue defending support aggressively.” For that setup to remain intact, HBAR needs to hold above $0.066, which would keep the first target at $0.072 in focus.
For that kind of upside move to develop, demand would need to support the bullish case. A look at on-chain indicators suggests that both retail traders and crypto whales are still cautious about calling a bottom, so the pattern alone has not yet been backed by broader participation.
Falling Wedge Competes With Signs of Distribution
The True Strength Index (TSI) remained in negative territory for nearly a week, briefly dipping into bearish mode last Thursday before a short-lived recovery on Sunday. The indicator points to a stronger bearish trend on the one-hour charts, while crypto whales continue to distribute positions. The Chaikin Money Flow (CMF) is showing a highly negative reading of -0.38.
Trading activity is also muted. With just $49 million in 24-hour spot volume, HBAR is trailing peers with similar market capitalizations, including Sui (SUI), Avalanche (AVAX), Shiba Inu (SHIB) and Litecoin (LTC).
Derivatives data did not offer a more convincing bullish signal. Of the $284.48K in liquidations, $281K were long positions.
Even so, HBAR bulls managed to bring the Open Interest (OI)-weighted funding rate back into positive territory after the flush. That may be a constructive sign for traders watching for a bottom, although the short-versus-long ratio remains tilted to the bearish side. According to CoinGlass, short-sellers outnumber HBAR longs by 1:0.89.