HBAR Price Slips as Analysts Track Long-Term Accumulation Zone

According to BraveNewCoin data, HBAR has lost 0.54% over the last 24 hours, and has a $3.94 billion market cap and $30.54 million trading volume.

Short-term is quiet, but longer-term charts are attracting some new interest. Analysts on X noted that HBAR is a compressed currency, undervalued compared to BTC, and may receive a “buy” when the buyers are in the current support area.

HBAR Trades Near $0.09

Market data indicated that Hedera has ranged in price between $0.09082 and $0.09199 over the past 24 hours. The narrow range reveals minimal spot momentum despite ongoing traders’ attention to the broader range.

HBAR was ruled by the bull market from the early May 17 high to the daily range low, as the price chart indicated. It did rally slightly in the session before being brought back down to the $0.0918 area by sellers.

According to the BraveNewCoin chart, one thing to note is that HBAR is not even close to reaching its cycle high. The token is down 84.04% from its $0.57 all-time high on September 15, 2021, to maintain long-term accumulation arguments.

But not a lot of volume on the short term indicates that buyers have not yet made a strong attempt to break out. The market catalyst needed for HBAR to break out of this range may be bigger, or the rotation of the other altcoins may be more significant.

Analysts Track Risk-Reward Setup

HBAR has a “good R: R,” says Don Wedge, referencing a long time frame of the HBAR/USD chart. The chart features a rising support line above the price as well as a descending resistance line below the price, representing both price support and price resistance.

That pattern is a large compression. The base has been moving higher over a period of years, and respecting it has been a key feature of HBAR’s lows.

The analyst chart indicated a potential bull target to the $0.246649 level should the price extend above the downward resistance level. Also, a larger green target was indicated near $1.00, but it would require a significant trend change and considerable market momentum.

Still, the immediate test remains much closer. HBAR needs to defend the rising support area and break the upper trendline before higher targets become more realistic.

HBAR/BTC Remains in Accumulation Zone

Analyst CryptoAvon said HBAR still has potential for higher prices, even against Bitcoin. Nevertheless, the analyst said HBAR is sitting in historically attractive valuation zones for accumulation against both the dollar and BTC.

The HBAR/BTC weekly chart showed the pair trading near 0.00000117 BTC, close to a lower support region that has attracted buyers in previous cycles. The chart also showed long-term moving averages above the price, meaning HBAR still trades under broader BTC-pair pressure.

Meanwhile, the analyst’s view suggests that the current zone may interest long-term traders focused on depressed relative valuations. That does not remove downside risk, but it explains why some traders are watching HBAR despite weak near-term performance.

Hedera’s next important signal may come from whether HBAR can hold the $0.09 area while improving against Bitcoin. A stronger move above the descending HBAR/USD resistance would shift attention toward $0.246, while a loss of support would keep the token trapped in its lower accumulation range.