Hedera's Crypto Struggle: A Look at Recent Price Drops

Hedera's cryptocurrency, HBAR, has been on a rough ride lately.

• Lowest Point in a Year: Dropped from $0.1202 to $0.1127 in one day.
• Big Fall: Caught many off guard, not just a small dip.

The Trouble Begins

• Failed to Hold Gains: Couldn't maintain levels above $0.1218.
• Downward Slide: Started to fall, leading to selling pressure.
• Common Pattern: Profit-taking often leads to further declines in the crypto world.

Interesting Volume Trends

• Spike in Trades: On December 14th, 69.18 million tokens traded, up from the usual 32.8 million.
• Key Resistance Level: $0.1194 tested but rejected, leading to a wave of selling.
• Volume Drop: After rejection, trade volume started to decline, indicating losing interest from big investors.

Bigger Picture

• Lowest Since November 2024: Only lower point was a brief spike in October.
• Market in Tough Spot: Current market conditions are challenging.

Key Levels to Watch

• Resistance Level: $0.1194 - Breaking through could signal recovery.
• Support Level: $0.1121 - Failing to hold could lead to further declines, retesting $0.11.

Volume Analysis

• Peak Volume: 69.18 million tokens confirmed resistance strength.
• 750% Volume Spike: At the end of the session, indicating interest from big investors.

Chart Patterns

• Descending Trendline: Broken from the $0.1218 high.
• Consolidation Range: Between $0.1129 and $0.1193, market trying to find direction.

Uncertain Future

• Potential Breakout: Could rise above $0.1194, targeting $0.1218.
• Further Decline: If support at $0.1121 fails, could fall further, retesting $0.11.
• Risky Game: Future uncertain, only time will tell.